Neo Ivy Capital Management Takes $539,000 Position in Dover Co. (NYSE:DOV)

Neo Ivy Capital Management purchased a new position in shares of Dover Co. (NYSE:DOV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,874 shares of the industrial products company's stock, valued at approximately $539,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Dover by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company's stock worth $3,045,772,000 after acquiring an additional 57,453 shares in the last quarter. Geode Capital Management LLC lifted its position in Dover by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company's stock worth $618,068,000 after acquiring an additional 74,541 shares in the last quarter. FMR LLC lifted its position in Dover by 1.1% during the 4th quarter. FMR LLC now owns 3,118,391 shares of the industrial products company's stock worth $585,010,000 after acquiring an additional 32,565 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position 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 worth $409,530,000 after acquiring an additional 524,092 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Dover by 16.6% during the 4th quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company's stock worth $323,896,000 after acquiring an additional 245,535 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DOV has been the topic of a number of recent analyst reports. Oppenheimer reaffirmed an "outperform" rating and issued a $225.00 target price (up from $220.00) on shares of Dover in a research report on Friday, January 31st. Robert W. Baird lowered their price target on Dover from $238.00 to $219.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Barclays boosted their price target on Dover from $180.00 to $185.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. UBS Group lowered their price objective on Dover from $217.00 to $211.00 and set a "neutral" rating for the company in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. upped their price objective on Dover from $190.00 to $211.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $207.75.

Dover Price Performance

DOV stock traded up $3.52 during trading hours on Tuesday, hitting $181.41. 958,038 shares of the stock traded hands, compared to its average volume of 974,394. The stock has a 50-day simple moving average of $171.79 and a 200 day simple moving average of $187.48. Dover Co. has a one year low of $143.04 and a one year high of $222.31. The company has a market cap of $24.87 billion, a P/E ratio of 9.33, a P/E/G ratio of 2.06 and a beta of 1.28. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV - Get Free Report) last announced 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. 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 last year, the business posted $1.95 earnings per share. The company's quarterly revenue was down .9% on a year-over-year basis. Equities analysts forecast that Dover Co. will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Friday, May 30th. Dover's dividend payout ratio is 12.41%.

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.