Hudson Bay Capital Management LP bought a new position in shares of Dover Co. (NYSE:DOV - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,508 shares of the industrial products company's stock, valued at approximately $2,347,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC increased its position in Dover by 26.6% in the 3rd quarter. Barclays PLC now owns 360,291 shares of the industrial products company's stock valued at $69,082,000 after acquiring an additional 75,670 shares during the period. Principal Financial Group Inc. increased its position in Dover by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company's stock valued at $34,100,000 after acquiring an additional 5,372 shares during the period. Czech National Bank increased its position in Dover by 6.2% in the 4th quarter. Czech National Bank now owns 29,746 shares of the industrial products company's stock valued at $5,580,000 after acquiring an additional 1,745 shares during the period. Thomasville National Bank increased its position in Dover by 46.7% in the 4th quarter. Thomasville National Bank now owns 2,727 shares of the industrial products company's stock valued at $512,000 after acquiring an additional 868 shares during the period. Finally, First Financial Corp IN increased its position in Dover by 418.1% in the 4th quarter. First Financial Corp IN now owns 430 shares of the industrial products company's stock valued at $81,000 after acquiring an additional 347 shares during the period. Institutional investors and hedge funds own 84.46% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on DOV shares. UBS Group dropped their price target on Dover from $217.00 to $211.00 and set a "neutral" rating on the stock in a research report on Friday, January 31st. Citigroup lowered 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. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $176.00 price objective on shares of Dover in a report on Friday, April 25th. Wells Fargo & Company lifted their price objective on Dover from $200.00 to $215.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. Finally, StockNews.com lowered Dover from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $208.17.
Check Out Our Latest Research Report on Dover
Dover Price Performance
DOV stock traded up $2.29 during midday trading on Friday, hitting $186.64. 656,131 shares of the stock were exchanged, compared to its average volume of 972,387. Dover Co. has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The stock's 50-day moving average price is $171.82 and its 200-day moving average price is $188.16. The stock has a market cap of $25.59 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 2.06 and a beta of 1.28.
Dover (NYSE:DOV - Get Free Report) last posted its earnings results 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 for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the company earned $1.95 EPS. Dover's revenue was down .9% on a year-over-year basis. Research analysts predict that Dover Co. will post 9.45 earnings per share for the current year.
Dover Announces Dividend
The firm also recently announced 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. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.06 annualized dividend and a yield of 1.10%. Dover's dividend payout ratio (DPR) is presently 12.41%.
About Dover
(
Free Report)
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.
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