Sterneck Capital Management LLC Acquires Shares of 1,155 Dover Co. (NYSE:DOV)

Sterneck Capital Management LLC bought a new position in shares of Dover Co. (NYSE:DOV) in the fourth quarter, HoldingsChannel reports. The firm bought 1,155 shares of the industrial products company’s stock, valued at approximately $217,000.

Several other large investors also recently modified their holdings of DOV. CWA Asset Management Group LLC lifted its holdings in Dover by 6.0% in the 4th quarter. CWA Asset Management Group LLC now owns 1,320 shares of the industrial products company’s stock worth $248,000 after buying an additional 75 shares during the period. Pensionfund Sabic lifted its stake in Dover by 37.7% in the fourth quarter. Pensionfund Sabic now owns 7,300 shares of the industrial products company’s stock worth $1,369,000 after acquiring an additional 2,000 shares during the period. Nordea Investment Management AB boosted its holdings in Dover by 14.9% in the fourth quarter. Nordea Investment Management AB now owns 97,885 shares of the industrial products company’s stock valued at $18,300,000 after acquiring an additional 12,709 shares in the last quarter. GAMMA Investing LLC increased its position in Dover by 29.6% during the 4th quarter. GAMMA Investing LLC now owns 1,567 shares of the industrial products company’s stock valued at $294,000 after purchasing an additional 358 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of Dover by 2,650.0% in the 4th quarter. Versant Capital Management Inc now owns 385 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 371 shares during the period. 84.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DOV has been the topic of several research analyst reports. The Goldman Sachs Group boosted their price target on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Barclays increased their target price on Dover from $190.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Wells Fargo & Company dropped their price target on Dover from $205.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Mizuho increased their price objective on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price on the stock in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $214.18.

Dover Price Performance

DOV opened at $187.93 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. The firm has a market cap of $25.78 billion, a PE ratio of 16.81, a P/E/G ratio of 2.70 and a beta of 1.23. Dover Co. has a 1 year low of $143.96 and a 1 year high of $208.26. The stock has a 50-day moving average price of $197.05 and a 200-day moving average price of $188.55.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $0.515 dividend. The ex-dividend date was Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a yield of 1.10%. Dover’s payout ratio is currently 18.43%.

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.