Dover Co. (NYSE:DOV) Holdings Lifted by Graham Capital Management L.P.

Graham Capital Management L.P. lifted its holdings in shares of Dover Co. (NYSE:DOV) by 978.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,553 shares of the industrial products company’s stock after buying an additional 21,369 shares during the period. Graham Capital Management L.P.’s holdings in Dover were worth $4,419,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DOV. Norges Bank bought a new position in Dover in the 4th quarter valued at about $316,228,000. Balyasny Asset Management L.P. acquired a new stake in Dover in the fourth quarter worth approximately $99,017,000. Adage Capital Partners GP L.L.C. boosted its stake in Dover by 31.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company’s stock valued at $409,530,000 after buying an additional 524,092 shares in the last quarter. Northern Trust Corp raised its position in Dover by 16.6% in the fourth quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company’s stock worth $323,896,000 after acquiring an additional 245,535 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in shares of Dover during the 4th quarter valued at about $40,350,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Up 0.8 %

DOV stock opened at $176.08 on Friday. The company has a 50 day moving average of $171.73 and a two-hundred day moving average of $188.32. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Dover Co. has a 12-month low of $143.04 and a 12-month high of $222.31. The company has a market cap of $24.14 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 2.06 and a beta of 1.28.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.06. Dover had a return on equity of 21.03% and a net margin of 32.95%. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the firm earned $1.95 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities analysts anticipate that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Friday, May 30th. Dover’s payout ratio is presently 12.41%.

Analysts Set New Price Targets

DOV has been the subject of several recent research reports. Wells Fargo & Company increased their target price on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. UBS Group reduced their price objective on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Morgan Stanley started coverage on Dover in a research report on Monday, April 14th. They set an “equal weight” rating and a $185.00 target price on the stock. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price target (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Finally, Citigroup reduced their price objective on shares of Dover from $244.00 to $201.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and a consensus price target of $206.33.

Dover Profile

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.