Asset Advisors Investment Management LLC Raises Stake in Dover Co. (NYSE:DOV)

Asset Advisors Investment Management LLC increased its stake in shares of Dover Co. (NYSE:DOV) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 100,140 shares of the industrial products company’s stock after buying an additional 1,061 shares during the period. Dover comprises about 2.0% of Asset Advisors Investment Management LLC’s holdings, making the stock its 17th biggest position. Asset Advisors Investment Management LLC owned about 0.07% of Dover worth $18,786,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in DOV. Financial Life Planners purchased a new stake in shares of Dover during the 4th quarter worth approximately $28,000. Ashton Thomas Securities LLC purchased a new stake in Dover in the third quarter worth $33,000. R Squared Ltd bought a new stake in shares of Dover in the fourth quarter valued at $34,000. Kieckhefer Group LLC purchased a new position in shares of Dover during the 4th quarter valued at $38,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Dover during the 4th quarter worth $46,000. Institutional investors own 84.46% of the company’s stock.

Dover Price Performance

Shares of NYSE DOV opened at $200.43 on Monday. The firm has a market capitalization of $27.50 billion, a P/E ratio of 10.30, a P/E/G ratio of 2.06 and a beta of 1.24. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock’s 50-day simple moving average is $195.51 and its two-hundred day simple moving average is $192.74. Dover Co. has a twelve month low of $161.19 and a twelve month high of $222.31.

Dover (NYSE:DOV) last announced its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. As a group, equities analysts anticipate that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.515 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.06 annualized dividend and a yield of 1.03%. Dover’s dividend payout ratio (DPR) is presently 10.59%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Citigroup lowered their price objective on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. JPMorgan Chase & Co. boosted their price target on shares of Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. UBS Group cut their price objective on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Wells Fargo & Company boosted their target price on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Finally, StockNews.com raised Dover from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $218.91.

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.