Geller Advisors LLC Purchases New Position in Dover Co. (NYSE:DOV)

Geller Advisors LLC purchased a new stake in Dover Co. (NYSE:DOV) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,136 shares of the industrial products company’s stock, valued at approximately $213,000.

A number of other large investors have also recently made changes to their positions in DOV. Vanguard Group Inc. raised its holdings in Dover by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company’s stock worth $3,045,772,000 after purchasing an additional 57,453 shares in the last quarter. Geode Capital Management LLC grew its holdings in Dover by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company’s stock valued at $618,068,000 after purchasing an additional 74,541 shares during the last quarter. FMR LLC increased its position in shares of Dover by 1.1% in the fourth quarter. FMR LLC now owns 3,118,391 shares of the industrial products company’s stock valued at $585,010,000 after buying an additional 32,565 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of Dover by 31.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company’s stock valued at $409,530,000 after purchasing an additional 524,092 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Dover by 16.6% during the 4th quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company’s stock valued at $323,896,000 after buying an additional 245,535 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Up 0.8 %

Shares of Dover stock opened at $176.08 on Friday. The business has a 50-day moving average price of $171.73 and a 200 day moving average price of $188.30. Dover Co. has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The firm has a market cap of $24.14 billion, a P/E ratio of 9.05, a P/E/G ratio of 2.06 and a beta of 1.28. 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) last issued its earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.06. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the company earned $1.95 earnings per share. On average, sell-side analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.515 per share. The ex-dividend date is Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.17%. Dover’s dividend payout ratio is currently 12.41%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 price objective (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. Citigroup reduced their target price on Dover from $244.00 to $201.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Barclays upped their price target on shares of Dover from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. lowered their price target on Dover from $230.00 to $189.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $176.00 price objective on shares of Dover in a report on Friday, April 25th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $206.33.

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.