Blue Trust Inc. Boosts Stake in Dover Co. (NYSE:DOV)

Blue Trust Inc. lifted its position in Dover Co. (NYSE:DOV) by 11.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,584 shares of the industrial products company’s stock after purchasing an additional 356 shares during the quarter. Blue Trust Inc.’s holdings in Dover were worth $687,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in shares of Dover in the third quarter worth approximately $33,000. Kieckhefer Group LLC purchased a new position in shares of Dover in the fourth quarter valued at about $38,000. Avior Wealth Management LLC raised its stake in shares of Dover by 183.5% during the third quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 167 shares during the last quarter. Coastline Trust Co purchased a new stake in shares of Dover during the third quarter worth about $50,000. Finally, Cromwell Holdings LLC grew its stake in shares of Dover by 50.5% in the third quarter. Cromwell Holdings LLC now owns 313 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 105 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Price Performance

NYSE DOV opened at $205.27 on Friday. The stock has a market capitalization of $28.16 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 2.04 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. The business’s fifty day moving average price is $195.60 and its 200-day moving average price is $190.22. Dover Co. has a 1-year low of $148.45 and a 1-year high of $214.57.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 23.61% and a net margin of 18.63%. On average, equities analysts predict that Dover Co. will post 8.17 earnings per share for the current year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a $0.515 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.06 annualized dividend and a dividend yield of 1.00%. Dover’s payout ratio is 18.43%.

Analyst Ratings Changes

Several analysts recently weighed in on DOV shares. The Goldman Sachs Group upped their target price on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Oppenheimer reiterated an “outperform” rating and issued a $215.00 price objective (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price on the stock in a research report on Monday, October 28th. Wells Fargo & Company lowered their price target on shares of Dover from $205.00 to $200.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Dover currently has an average rating of “Moderate Buy” and an average target price of $212.55.

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.