Dover Co. (NYSE:DOV) Shares Purchased by Avity Investment Management Inc.

Avity Investment Management Inc. boosted its position in Dover Co. (NYSE:DOV) by 46.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,993 shares of the industrial products company’s stock after acquiring an additional 950 shares during the quarter. Avity Investment Management Inc.’s holdings in Dover were worth $530,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new position in Dover in the 3rd quarter worth $32,000. Headinvest LLC bought a new stake in shares of Dover in the 3rd quarter worth about $32,000. Exchange Traded Concepts LLC bought a new stake in shares of Dover in the 4th quarter worth about $33,000. AdvisorNet Financial Inc increased its position in shares of Dover by 783.3% in the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 188 shares during the last quarter. Finally, Life Planning Partners Inc bought a new stake in shares of Dover in the 4th quarter worth about $35,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

DOV has been the subject of several research analyst reports. Mizuho boosted their target price on shares of Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Barclays boosted their price objective on shares of Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Robert W. Baird boosted their price objective on shares of Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Wells Fargo & Company boosted their price objective on shares of Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Finally, Citigroup boosted their price objective on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and an average price target of $185.75.

Dover Stock Performance

NYSE DOV traded up $2.00 on Friday, hitting $180.45. The stock had a trading volume of 1,581,371 shares, compared to its average volume of 1,073,027. Dover Co. has a one year low of $127.25 and a one year high of $188.64. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The stock has a market cap of $24.80 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 2.21 and a beta of 1.24. The company’s 50-day moving average is $181.07 and its two-hundred day moving average is $168.35.

Dover (NYSE:DOV) last posted its earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.04%. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the firm earned $1.94 EPS. Dover’s quarterly revenue was up .7% on a year-over-year basis. On average, analysts expect that Dover Co. will post 9.1 earnings per share for the current year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Friday, May 31st. Dover’s dividend payout ratio is currently 19.60%.

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.