Virtus ETF Advisers LLC Takes Position in Dover Co. (NYSE:DOV)

Virtus ETF Advisers LLC bought a new position in shares of Dover Co. (NYSE:DOV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,975 shares of the industrial products company’s stock, valued at approximately $1,121,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Dover by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company’s stock valued at $3,045,772,000 after buying an additional 57,453 shares during the last quarter. Geode Capital Management LLC raised its position in Dover by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company’s stock valued at $618,068,000 after acquiring an additional 74,541 shares in the last quarter. FMR LLC lifted its holdings in Dover by 1.1% in the fourth quarter. FMR LLC now owns 3,118,391 shares of the industrial products company’s stock valued at $585,010,000 after acquiring an additional 32,565 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in Dover by 31.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company’s stock worth $409,530,000 after purchasing an additional 524,092 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Dover during the 4th quarter worth approximately $316,228,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Trading Down 0.3 %

Shares of DOV opened at $169.18 on Friday. The firm’s fifty day moving average is $176.90 and its two-hundred day moving average is $189.66. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $23.19 billion, a PE ratio of 8.70, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. Dover Co. has a 52-week low of $143.04 and a 52-week high of $222.31.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.06. Dover had a net margin of 32.95% and a return on equity of 21.03%. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Research analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s payout ratio is currently 10.59%.

Wall Street Analyst Weigh In

DOV has been the topic of several analyst reports. Wells Fargo & Company raised their price target on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Morgan Stanley began coverage on Dover in a report on Monday, April 14th. They issued an “equal weight” rating and a $185.00 price target for the company. Citigroup dropped their price objective on Dover from $244.00 to $201.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. reduced their target price on Dover from $230.00 to $189.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and an average target price of $209.50.

About Dover

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.