Proficio Capital Partners LLC Takes Position in Dover Co. (NYSE:DOV)

Proficio Capital Partners LLC purchased a new stake in Dover Co. (NYSE:DOV) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 153,082 shares of the industrial products company’s stock, valued at approximately $28,718,000.

Several other hedge funds also recently added to or reduced their stakes in the business. State Street Corp grew its position in Dover by 0.9% in the third quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock worth $1,191,531,000 after acquiring an additional 56,149 shares during the period. Geode Capital Management LLC grew its position in Dover by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock worth $616,945,000 after acquiring an additional 25,993 shares during the period. FMR LLC grew its position in Dover by 5.1% in the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after acquiring an additional 149,378 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Dover by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company’s stock worth $188,815,000 after acquiring an additional 17,193 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Dover by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 828,103 shares of the industrial products company’s stock worth $155,352,000 after acquiring an additional 16,763 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Up 2.3 %

Shares of NYSE DOV opened at $181.15 on Friday. The stock has a market cap of $24.86 billion, a P/E ratio of 9.31, a PEG ratio of 2.06 and a beta of 1.24. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. Dover Co. has a 12-month low of $168.20 and a 12-month high of $222.31. The business’s fifty day simple moving average is $195.12 and its 200-day simple moving average is $193.49.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. As a group, equities analysts predict that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Friday, February 28th. Dover’s dividend payout ratio is presently 10.59%.

Analysts Set New Price Targets

Several research analysts recently weighed in on DOV shares. JPMorgan Chase & Co. increased their price objective on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research report on Monday, March 10th. Oppenheimer restated an “outperform” rating and set a $225.00 price target (up from $220.00) on shares of Dover in a research report on Friday, January 31st. Barclays raised their price target on Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Finally, Royal Bank of Canada raised their price target on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $218.91.

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.