Dover Co. (NYSE:DOV) Shares Purchased by Graham Capital Management L.P.

Graham Capital Management L.P. boosted its stake in Dover Co. (NYSE:DOV - Free Report) by 978.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,553 shares of the industrial products company's stock after buying an additional 21,369 shares during the period. Graham Capital Management L.P.'s holdings in Dover were worth $4,419,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DOV. Norges Bank purchased a new stake in Dover in the 4th quarter valued at about $316,228,000. Balyasny Asset Management L.P. purchased a new stake in Dover during the fourth quarter worth about $99,017,000. Adage Capital Partners GP L.L.C. increased its stake in Dover by 31.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company's stock worth $409,530,000 after purchasing an additional 524,092 shares during the period. Northern Trust Corp increased its stake in Dover by 16.6% during the fourth quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company's stock worth $323,896,000 after purchasing an additional 245,535 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new stake in Dover during the fourth quarter worth about $40,350,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Performance

Shares of Dover stock traded up $2.05 during trading hours on Tuesday, hitting $185.64. 66,321 shares of the company were exchanged, compared to its average volume of 970,094. Dover Co. has a 1 year low of $143.04 and a 1 year high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average of $171.60 and a 200-day moving average of $188.30. The stock has a market capitalization of $25.45 billion, a price-to-earnings ratio of 9.56, 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 results on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.99 by $0.06. Dover had a return on equity of 21.03% and a net margin of 32.95%. The business had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter in the prior year, the business earned $1.95 earnings per share. The company's quarterly revenue was down .9% compared to the same quarter last year. As a group, analysts expect that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.11%. Dover's dividend payout ratio (DPR) is presently 12.41%.

Analyst Upgrades and Downgrades

DOV has been the topic of a number of recent research reports. Royal Bank of Canada reiterated a "sector perform" rating and set a $176.00 price target on shares of Dover in a research note on Friday, April 25th. Robert W. Baird lowered their price objective on Dover from $238.00 to $219.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. lowered their price objective on Dover from $230.00 to $189.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Oppenheimer reissued an "outperform" rating and set a $225.00 price objective (up from $220.00) on shares of Dover in a research report on Friday, January 31st. Finally, Wells Fargo & Company boosted their price objective on Dover from $200.00 to $215.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $206.33.

Dover Company Profile

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.