Aigen Investment Management LP Boosts Stock Position in Dover Co. (NYSE:DOV)

Aigen Investment Management LP lifted its position in shares of Dover Co. (NYSE:DOV) by 233.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,259 shares of the industrial products company’s stock after purchasing an additional 3,681 shares during the period. Aigen Investment Management LP’s holdings in Dover were worth $987,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Dover by 0.9% during the third quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock worth $1,191,531,000 after purchasing an additional 56,149 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Dover by 0.8% during the third quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock worth $616,945,000 after purchasing an additional 25,993 shares during the period. FMR LLC boosted its holdings in shares of Dover by 5.1% during the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after purchasing an additional 149,378 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Dover by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company’s stock worth $188,815,000 after buying an additional 17,193 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Dover by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 828,103 shares of the industrial products company’s stock worth $155,352,000 after buying an additional 16,763 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DOV has been the subject of several research analyst reports. Royal Bank of Canada raised their price objective on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. JPMorgan Chase & Co. raised their price objective on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Citigroup lowered their price objective on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Wells Fargo & Company raised their price objective on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Five 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 data from MarketBeat, Dover has an average rating of “Moderate Buy” and an average price target of $218.91.

Dover Stock Performance

Shares of DOV opened at $189.91 on Thursday. 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 business’s 50 day moving average price is $196.00 and its 200-day moving average price is $193.61. Dover Co. has a 52 week low of $167.87 and a 52 week high of $222.31. The stock has a market cap of $26.06 billion, a P/E ratio of 9.76, a P/E/G ratio of 2.06 and a beta of 1.24.

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

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.515 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a yield of 1.08%. Dover’s payout ratio is currently 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.