Reliant Investment Management LLC Makes New $282,000 Investment in Dover Co. (NYSE:DOV)

Reliant Investment Management LLC bought a new stake in Dover Co. (NYSE:DOV - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,605 shares of the industrial products company's stock, valued at approximately $282,000.

A number of other large investors have also recently made changes to their positions in the company. Ecofi Investissements SA increased its stake in Dover by 1.1% in the 4th quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company's stock valued at $765,000 after purchasing an additional 50 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in Dover by 4.0% in the first quarter. Fifth Third Wealth Advisors LLC now owns 1,740 shares of the industrial products company's stock valued at $306,000 after purchasing an additional 67 shares during the last quarter. Lido Advisors LLC increased its position in shares of Dover by 1.4% in the fourth quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company's stock valued at $923,000 after buying an additional 69 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Dover by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,787 shares of the industrial products company's stock worth $2,211,000 after buying an additional 70 shares during the last quarter. Finally, Colonial Trust Co SC boosted its position in shares of Dover by 11.1% in the 4th quarter. Colonial Trust Co SC now owns 720 shares of the industrial products company's stock worth $135,000 after buying an additional 72 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Up 1.3%

DOV stock opened at $179.56 on Friday. The company has a 50 day moving average price of $171.50 and a two-hundred day moving average price of $186.23. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The stock has a market capitalization of $24.62 billion, a P/E ratio of 9.23, a PEG ratio of 2.06 and a beta of 1.27. Dover Co. has a one year low of $143.04 and a one year high of $222.31.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.06. The business had revenue of $1.87 billion for 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 business's revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm earned $1.95 earnings per share. As a group, sell-side analysts expect that Dover Co. will post 9.45 EPS for the current year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Friday, May 30th. Dover's dividend payout ratio is currently 12.41%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DOV. Wall Street Zen downgraded shares of Dover from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Morgan Stanley started coverage on shares of Dover in a research report on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Dover from $190.00 to $211.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Mizuho set a $215.00 target price on Dover in a research note on Friday, May 16th. Finally, Robert W. Baird dropped their price target on Dover from $238.00 to $219.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Dover has an average rating of "Moderate Buy" and a consensus target price of $207.75.

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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