Ethic Inc. Boosts Stock Position in Dover Co. (NYSE:DOV)

Ethic Inc. raised its position in shares of Dover Co. (NYSE:DOV - Free Report) by 32.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,853 shares of the industrial products company's stock after purchasing an additional 8,242 shares during the quarter. Ethic Inc.'s holdings in Dover were worth $6,351,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Robert W. Baird cut their target price on shares of Dover from $238.00 to $219.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Morgan Stanley assumed coverage on Dover in a research report on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price objective on the stock. StockNews.com lowered shares of Dover from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Oppenheimer reaffirmed an "outperform" rating and issued 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 increased their price target 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $206.33.

Dover Trading Up 1.1%

NYSE DOV traded up $2.03 on Tuesday, reaching $185.62. The stock had a trading volume of 876,739 shares, compared to its average volume of 974,417. The stock has a fifty day moving average price of $171.60 and a two-hundred day moving average price of $188.30. Dover Co. has a 12-month low of $143.04 and a 12-month high of $222.31. The firm has a market capitalization of $25.45 billion, a price-to-earnings ratio of 9.54, a P/E/G ratio of 2.06 and a beta of 1.28. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.99 by $0.06. The firm had revenue of $1.87 billion during 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 business's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.95 earnings per share. As a group, sell-side analysts forecast that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Friday, May 30th. Dover's dividend payout ratio is currently 12.41%.

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.