111 Capital Purchases New Stake in Dover Co. (NYSE:DOV)

111 Capital acquired a new stake in Dover Co. (NYSE:DOV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,471 shares of the industrial products company's stock, valued at approximately $464,000.

Other hedge funds have also recently modified their holdings of the company. Financial Life Planners purchased a new stake in shares of Dover in the fourth quarter worth about $28,000. R Squared Ltd purchased a new stake in shares of Dover in the fourth quarter worth about $34,000. EverSource Wealth Advisors LLC boosted its stake in shares of Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock worth $37,000 after buying an additional 87 shares during the last quarter. Orion Capital Management LLC purchased a new stake in shares of Dover in the fourth quarter worth about $43,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Dover in the fourth quarter worth about $46,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Price Performance

Shares of NYSE DOV traded up $1.93 during midday trading on Tuesday, hitting $178.01. The stock had a trading volume of 976,570 shares, compared to its average volume of 967,487. The company has a market capitalization of $24.41 billion, a PE ratio of 9.15, a P/E/G ratio of 2.06 and a beta of 1.28. The stock has a 50 day simple moving average of $171.35 and a 200-day simple moving average of $186.58. 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.

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 for the quarter, beating the consensus estimate 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 return on equity of 21.03% and a net margin of 32.95%. The business's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $1.95 earnings per share. On average, sell-side 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. Investors of record on Friday, May 30th will be issued a $0.515 dividend. The ex-dividend date is Friday, May 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.16%. Dover's dividend payout ratio is presently 12.41%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DOV shares. Mizuho set a $215.00 target price on Dover in a research note on Friday, May 16th. Barclays upped their target price 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 lowered their price target on Dover from $238.00 to $219.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Royal Bank of Canada reiterated a "sector perform" rating and set a $176.00 price target on shares of Dover in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. increased their price target on Dover from $190.00 to $211.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $207.75.

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.