Connors Investor Services Inc. Has $9.58 Million Stock Holdings in Dover Co. (NYSE:DOV)

Connors Investor Services Inc. increased its position in shares of Dover Co. (NYSE:DOV - Free Report) by 12.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,055 shares of the industrial products company's stock after purchasing an additional 5,655 shares during the quarter. Connors Investor Services Inc.'s holdings in Dover were worth $9,578,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in DOV. Wolverine Asset Management LLC boosted its position in shares of Dover by 78.6% during the fourth quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company's stock worth $2,345,000 after buying an additional 5,500 shares during the period. Westpac Banking Corp grew its stake in shares of Dover by 1,332.8% in the fourth quarter. Westpac Banking Corp now owns 24,486 shares of the industrial products company's stock worth $4,594,000 after purchasing an additional 22,777 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Dover by 195.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company's stock valued at $17,077,000 after purchasing an additional 60,235 shares during the period. Principal Financial Group Inc. raised its stake 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 valued at $34,100,000 after purchasing an additional 5,372 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its position in Dover by 1.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 27,626 shares of the industrial products company's stock valued at $5,183,000 after buying an additional 444 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Dover Trading Up 2.3 %

Shares of DOV stock traded up $3.93 during trading hours on Friday, reaching $173.74. 1,408,883 shares of the stock traded hands, compared to its average volume of 971,501. The business has a fifty day moving average price of $173.81 and a 200 day moving average price of $189.01. Dover Co. has a 1-year low of $143.04 and a 1-year high of $222.31. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $23.82 billion, a PE ratio of 8.93, a PEG ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV - Get Free Report) last released 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 company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the company earned $1.95 earnings per share. The company's revenue for the quarter was down .9% on a year-over-year basis. On average, equities research analysts forecast that Dover Co. will post 9.45 EPS for the current year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.19%. Dover's dividend payout ratio (DPR) is presently 12.41%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Dover in a research note on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price target for the company. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $176.00 price target on shares of Dover in a research note on Friday, April 25th. Barclays boosted their price objective on Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Robert W. Baird decreased their target price on Dover from $238.00 to $219.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. cut their price target on shares of Dover from $230.00 to $189.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.