Hanson & Doremus Investment Management Acquires 6,215 Shares of Dover Co. (NYSE:DOV)

Hanson & Doremus Investment Management grew its holdings in Dover Co. (NYSE:DOV - Free Report) by 1,490.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,632 shares of the industrial products company's stock after acquiring an additional 6,215 shares during the quarter. Hanson & Doremus Investment Management's holdings in Dover were worth $1,165,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Dover by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company's stock worth $3,045,772,000 after purchasing an additional 57,453 shares during the period. Geode Capital Management LLC lifted its position in Dover by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company's stock worth $618,068,000 after purchasing an additional 74,541 shares during the period. FMR LLC lifted its position in Dover by 1.1% in the fourth quarter. FMR LLC now owns 3,118,391 shares of the industrial products company's stock worth $585,010,000 after purchasing an additional 32,565 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in Dover by 31.6% in 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. Finally, Northern Trust Corp lifted its position in Dover by 16.6% in 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. 84.46% of the stock is owned by institutional investors.

Dover Price Performance

Shares of DOV stock opened at $176.27 on Monday. The stock has a 50-day moving average price of $173.47 and a 200 day moving average price of $185.09. 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 cap of $24.17 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 2.06 and a beta of 1.27. Dover Co. has a 12 month low of $143.04 and a 12 month high of $222.31.

Dover (NYSE:DOV - Get Free Report) last announced 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 analyst estimates of $1.88 billion. Dover had a return on equity of 21.03% and a net margin of 32.95%. The company's revenue was down .9% on a year-over-year basis. During the same period last year, the company earned $1.95 earnings per share. Research analysts expect that Dover Co. will post 9.45 EPS for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Friday, May 30th. Dover's dividend payout ratio (DPR) is currently 12.41%.

Analysts Set New Price Targets

Several research analysts recently commented on DOV shares. Citigroup reduced their target price on Dover from $244.00 to $201.00 and set a "buy" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. lifted their price objective on Dover from $190.00 to $211.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Barclays lifted their price objective on Dover from $180.00 to $185.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Robert W. Baird cut their price objective on Dover from $238.00 to $219.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Finally, Wall Street Zen cut Dover from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $208.58.

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.

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