Twinbeech Capital LP Acquires Shares of 1,722 Dover Co. (NYSE:DOV)

Twinbeech Capital LP acquired a new position in Dover Co. (NYSE:DOV - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,722 shares of the industrial products company's stock, valued at approximately $323,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wolverine Asset Management LLC boosted its position in shares of Dover by 78.6% during the fourth quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company's stock worth $2,345,000 after acquiring an additional 5,500 shares during the last quarter. Westpac Banking Corp boosted its position in shares of Dover by 1,332.8% during the fourth quarter. Westpac Banking Corp now owns 24,486 shares of the industrial products company's stock worth $4,594,000 after acquiring an additional 22,777 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Dover by 1.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 27,626 shares of the industrial products company's stock worth $5,183,000 after acquiring an additional 444 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Dover by 3.7% during the fourth quarter. Bank of Montreal Can now owns 154,311 shares of the industrial products company's stock worth $28,949,000 after acquiring an additional 5,469 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of Dover by 4.8% during 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 during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on DOV shares. Royal Bank of Canada restated a "sector perform" rating and set a $176.00 target price on shares of Dover in a research report on Friday, April 25th. Wall Street Zen lowered shares of Dover from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. UBS Group lowered their price objective 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. Barclays increased their price objective on shares of Dover from $180.00 to $185.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Finally, Wells Fargo & Company increased their price objective on shares of Dover from $200.00 to $215.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $207.75.

Dover Trading Down 1.1%

DOV stock traded down $2.06 during trading on Friday, hitting $177.79. The company had a trading volume of 1,170,165 shares, compared to its average volume of 974,058. The firm has a market capitalization of $24.38 billion, a P/E ratio of 9.14, a PEG ratio of 2.06 and a beta of 1.28. Dover Co. has a 52-week low of $143.04 and a 52-week high of $222.31. The company has a 50 day simple moving average of $171.88 and a 200-day simple moving average of $187.65. 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 (NYSE:DOV - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.99 by $0.06. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. Dover had a net margin of 32.95% and a return on equity of 21.03%. The firm's revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.95 EPS. As a group, research analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Friday, May 30th. Dover's dividend payout ratio (DPR) 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.