Azzad Asset Management Inc. ADV Acquires Shares of 18,719 Dover Co. (NYSE:DOV)

Azzad Asset Management Inc. ADV bought a new stake in Dover Co. (NYSE:DOV - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 18,719 shares of the industrial products company's stock, valued at approximately $3,288,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in shares of Dover by 79.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock valued at $37,000 after buying an additional 87 shares during the period. Orion Capital Management LLC bought a new position in Dover in the fourth quarter valued at approximately $43,000. Mainstream Capital Management LLC acquired a new stake in Dover in the fourth quarter valued at approximately $61,000. Catalyst Capital Advisors LLC acquired a new position in shares of Dover during the fourth quarter worth $68,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Dover during the fourth quarter worth $69,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Dover Stock Performance

Shares of NYSE DOV traded down $2.51 during mid-day trading on Friday, hitting $176.27. 898,534 shares of the company were exchanged, compared to its average volume of 957,686. 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 stock has a 50 day simple moving average of $173.47 and a 200-day simple moving average of $185.39. The firm has a market cap of $24.17 billion, a price-to-earnings ratio of 9.06, a price-to-earnings-growth ratio of 2.06 and a beta of 1.27.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, topping 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 return on equity of 21.03% and a net margin of 32.95%. The firm's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $1.95 EPS. On average, sell-side analysts forecast that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The firm 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 dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.17%. Dover's dividend payout ratio (DPR) is presently 12.41%.

Analysts Set New Price Targets

Several research firms have commented on DOV. JPMorgan Chase & Co. increased their price objective on shares of Dover from $190.00 to $211.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Barclays lifted their target price on shares of Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Robert W. Baird cut their target price on shares of Dover from $238.00 to $219.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Citigroup dropped their price objective on shares of Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Morgan Stanley initiated coverage on shares of Dover in a report on Monday, April 14th. They set an "equal weight" rating and a $185.00 price objective for the company. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Dover presently has a consensus rating of "Moderate Buy" and an average price target of $208.58.

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.