Empowered Funds LLC Acquires 268 Shares of Dover Co. (NYSE:DOV)

Empowered Funds LLC lifted its holdings in shares of Dover Co. (NYSE:DOV) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,426 shares of the industrial products company’s stock after purchasing an additional 268 shares during the period. Empowered Funds LLC’s holdings in Dover were worth $2,519,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in DOV. CWM LLC raised its stake in Dover by 5.3% during the 3rd quarter. CWM LLC now owns 2,639 shares of the industrial products company’s stock worth $506,000 after buying an additional 132 shares during the period. Exchange Traded Concepts LLC raised its stake in Dover by 488.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,295 shares of the industrial products company’s stock worth $248,000 after buying an additional 1,075 shares during the period. NBC Securities Inc. raised its stake in Dover by 2.9% during the 3rd quarter. NBC Securities Inc. now owns 5,204 shares of the industrial products company’s stock worth $997,000 after buying an additional 149 shares during the period. Swedbank AB raised its stake in Dover by 76.6% during the 3rd quarter. Swedbank AB now owns 15,053 shares of the industrial products company’s stock worth $2,886,000 after buying an additional 6,529 shares during the period. Finally, Sumitomo Life Insurance Co. raised its stake in Dover by 2.8% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 6,224 shares of the industrial products company’s stock worth $1,193,000 after buying an additional 168 shares during the period. Institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Citigroup dropped their price target on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 price target (up from $220.00) on shares of Dover in a research note on Friday, January 31st. UBS Group lowered their price objective on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Finally, The Goldman Sachs Group increased their price objective on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $218.91.

Dover Stock Performance

Shares of DOV opened at $202.76 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $27.82 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 2.03 and a beta of 1.24. The stock has a 50 day moving average of $195.23 and a 200 day moving average of $191.50. Dover Co. has a 12 month low of $159.23 and a 12 month high of $222.31.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. As a group, sell-side analysts forecast that Dover Co. will post 9.47 earnings per share for the current year.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.02%. Dover’s dividend payout ratio (DPR) is 10.59%.

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.