Brevan Howard Capital Management LP Makes New Investment in Dover Co. (NYSE:DOV)

Brevan Howard Capital Management LP purchased a new position in Dover Co. (NYSE:DOV - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,381 shares of the industrial products company's stock, valued at approximately $634,000.

Several other institutional investors and hedge funds have also bought and sold shares of DOV. Barclays PLC grew its holdings in Dover by 26.6% in the third quarter. Barclays PLC now owns 360,291 shares of the industrial products company's stock worth $69,082,000 after purchasing an additional 75,670 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Dover by 3.1% during the third quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company's stock worth $34,100,000 after purchasing an additional 5,372 shares during the last quarter. Nordea Investment Management AB grew its position in Dover by 14.9% during the 4th quarter. Nordea Investment Management AB now owns 97,885 shares of the industrial products company's stock worth $18,300,000 after purchasing an additional 12,709 shares during the period. CWA Asset Management Group LLC lifted its holdings in shares of 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 valued at $248,000 after buying an additional 75 shares during the period. Finally, ORG Partners LLC boosted its stake in shares of Dover by 5.4% in the fourth quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company's stock worth $214,000 after buying an additional 58 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Trading Up 1.1%

Shares of Dover stock traded up $2.03 on Tuesday, reaching $185.62. The company had a trading volume of 869,907 shares, compared to its average volume of 973,026. The firm's 50 day moving average price is $171.60 and its two-hundred day moving average price is $188.30. The firm has a market cap of $25.45 billion, a PE ratio of 9.54, a PEG ratio of 2.06 and a beta of 1.28. Dover Co. has a 52-week low of $143.04 and a 52-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.

Dover (NYSE:DOV - Get Free Report) last released its quarterly 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. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. Dover had a net margin of 32.95% and a return on equity of 21.03%. The business's revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.95 EPS. Sell-side analysts predict that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Friday, May 30th. Dover's dividend payout ratio (DPR) is currently 12.41%.

Wall Street Analyst Weigh In

DOV has been the topic of several analyst reports. UBS Group dropped their price target on shares of Dover from $217.00 to $211.00 and set a "neutral" rating on the stock in a research report on Friday, January 31st. Barclays lifted their target price on shares of Dover from $180.00 to $185.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. StockNews.com lowered shares of Dover from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Oppenheimer reiterated an "outperform" rating and issued a $225.00 target price (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Finally, Robert W. Baird lowered their price target on shares of Dover from $238.00 to $219.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $206.33.

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.