Stevens Capital Management LP Makes New Investment in Dover Corporation (NYSE:DOV)

Key Points

• Stevens Capital Management LP invested approximately $295,000 in Dover Corporation by purchasing 1,679 shares in the first quarter of the year.
• Institutional investors collectively own 84.46% of Dover's stock, with several firms, including Neo Ivy Capital Management and Assetmark Inc., increasing their positions significantly.
• Dover's stock received a mix of ratings, with six analysts giving it a hold rating and seven issuing buy ratings, leading to an average price target of $213.42.

Stevens Capital Management LP purchased a new stake in shares of Dover Corporation (NYSE:DOV - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,679 shares of the industrial products company's stock, valued at approximately $295,000.

Several other large investors have also added to or reduced their stakes in the company. Neo Ivy Capital Management raised its holdings in Dover by 38.8% in the 1st quarter. Neo Ivy Capital Management now owns 3,990 shares of the industrial products company's stock worth $701,000 after purchasing an additional 1,116 shares during the period. Assetmark Inc. raised its holdings in shares of Dover by 2.6% during the first quarter. Assetmark Inc. now owns 56,138 shares of the industrial products company's stock valued at $9,862,000 after acquiring an additional 1,404 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Dover by 0.5% during the first quarter. Cetera Investment Advisers now owns 27,256 shares of the industrial products company's stock valued at $4,788,000 after acquiring an additional 136 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Dover by 1.8% during the first quarter. Avantax Advisory Services Inc. now owns 6,323 shares of the industrial products company's stock valued at $1,111,000 after acquiring an additional 110 shares during the last quarter. Finally, Kovack Advisors Inc. acquired a new position in shares of Dover during the first quarter valued at approximately $228,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on DOV shares. Mizuho increased their target price on Dover from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Robert W. Baird increased their price target on Dover from $219.00 to $234.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Citigroup restated a "buy" rating and set a $226.00 price target (up from $202.00) on shares of Dover in a research report on Monday, July 14th. JPMorgan Chase & Co. raised their price target on Dover from $211.00 to $217.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Barclays increased their price objective on Dover from $185.00 to $193.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Dover has a consensus rating of "Moderate Buy" and an average target price of $213.92.

Dover Stock Performance

Shares of DOV traded down $0.06 during trading hours on Wednesday, hitting $184.00. The company's stock had a trading volume of 164,068 shares, compared to its average volume of 1,063,759. The company has a market cap of $25.23 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 1.47 and a beta of 1.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.95 and a quick ratio of 1.35. The business has a 50 day simple moving average of $182.60 and a two-hundred day simple moving average of $183.15. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $222.31.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The industrial products company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.39 by $0.05. The company had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.03 billion. Dover had a net margin of 29.29% and a return on equity of 18.19%. Dover's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.36 earnings per share. On average, equities analysts expect that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 30th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, May 30th. Dover's payout ratio is presently 12.42%.

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.