Balyasny Asset Management L.P. Invests $99.02 Million in Dover Co. (NYSE:DOV)

Balyasny Asset Management L.P. bought a new position in shares of Dover Co. (NYSE:DOV - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 527,811 shares of the industrial products company's stock, valued at approximately $99,017,000. Balyasny Asset Management L.P. owned 0.38% of Dover as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Alyeska Investment Group L.P. bought a new stake in Dover during the 4th quarter valued at $40,350,000. Ancora Advisors LLC increased its position in shares of Dover by 53.2% during the fourth quarter. Ancora Advisors LLC now owns 3,503 shares of the industrial products company's stock valued at $657,000 after buying an additional 1,216 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in shares of Dover by 9.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 73,770 shares of the industrial products company's stock valued at $13,839,000 after acquiring an additional 6,185 shares during the period. Sulzberger Capital Advisors Inc. bought a new stake in Dover during the 4th quarter worth approximately $305,000. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in Dover by 82.4% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 153,404 shares of the industrial products company's stock worth $28,779,000 after purchasing an additional 69,290 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DOV shares. JPMorgan Chase & Co. lowered their target price on shares of Dover from $230.00 to $189.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. StockNews.com downgraded shares of Dover from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Citigroup reduced their target price on Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Oppenheimer reaffirmed an "outperform" rating and set a $225.00 price target (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. Finally, Robert W. Baird reduced their price objective on Dover from $238.00 to $219.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $206.33.

Dover Trading Up 0.3 %

Shares of NYSE:DOV traded up $0.58 during trading on Wednesday, reaching $171.29. 911,555 shares of the company traded hands, compared to its average volume of 970,564. 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 52-week low of $143.04 and a 52-week high of $222.31. The business's fifty day moving average is $172.26 and its 200-day moving average is $188.55. The firm has a market capitalization of $23.48 billion, a price-to-earnings ratio of 8.81, a P/E/G ratio of 2.06 and a beta of 1.28.

Dover (NYSE:DOV - Get Free Report) 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. The firm had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.88 billion. Dover had a net margin of 32.95% and a return on equity of 21.03%. The company's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.95 earnings per share. As a group, analysts forecast that Dover Co. will post 9.45 EPS for the current year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.515 per share. The ex-dividend date is Friday, May 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.20%. Dover's dividend payout ratio (DPR) is presently 12.41%.

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.