Neo Ivy Capital Management Purchases New Shares in Dover Co. (NYSE:DOV)

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

Several other institutional investors and hedge funds have also recently bought and sold shares of DOV. Wolverine Asset Management LLC increased its stake in shares of Dover by 78.6% in the fourth quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company's stock valued at $2,345,000 after purchasing an additional 5,500 shares during the period. Westpac Banking Corp boosted its holdings in shares of Dover by 1,332.8% in the fourth quarter. Westpac Banking Corp now owns 24,486 shares of the industrial products company's stock valued at $4,594,000 after acquiring an additional 22,777 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Dover by 1.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 27,626 shares of the industrial products company's stock worth $5,183,000 after purchasing an additional 444 shares during the period. Bank of Montreal Can increased its stake in Dover by 3.7% in the 4th quarter. Bank of Montreal Can now owns 154,311 shares of the industrial products company's stock valued at $28,949,000 after buying an additional 5,469 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its position in Dover by 4.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 253,376 shares of the industrial products company's stock worth $47,533,000 after acquiring an additional 11,592 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $176.00 price objective on shares of Dover in a report on Friday, April 25th. Mizuho set a $215.00 price objective on shares of Dover in a research note on Friday, May 16th. UBS Group dropped their target price on shares of Dover from $217.00 to $211.00 and set a "neutral" rating for the company in a research report on Friday, January 31st. Wall Street Zen cut shares of Dover from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Finally, Morgan Stanley assumed coverage on shares of Dover in a research report on Monday, April 14th. They set an "equal weight" rating and a $185.00 target price for the company. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $207.75.

Dover Trading Down 0.0%

NYSE DOV traded down $0.06 during trading on Thursday, reaching $179.48. 297,848 shares of the stock traded hands, compared to its average volume of 968,506. The firm has a market cap of $24.61 billion, a price-to-earnings ratio of 9.22, a price-to-earnings-growth ratio of 2.06 and a beta of 1.28. The stock's 50-day moving average price is $171.78 and its 200 day moving average price is $187.38. 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 Co. has a fifty-two week low of $143.04 and a fifty-two week high of $222.31.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.88 billion. Dover had a net margin of 32.95% and a return on equity of 21.03%. The business's revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.95 earnings per share. Analysts predict that Dover Co. will post 9.45 EPS for the current year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued 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 1.15%. Dover's payout ratio is 12.41%.

Dover 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.