IAM Advisory LLC Takes $802,000 Position in Dover Co. (NYSE:DOV)

IAM Advisory LLC purchased a new position in shares of Dover Co. (NYSE:DOV) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,273 shares of the industrial products company’s stock, valued at approximately $802,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new stake in Dover in the 2nd quarter worth $2,995,000. Mercer Global Advisors Inc. ADV increased its stake in shares of Dover by 8.2% during the second quarter. Mercer Global Advisors Inc. ADV now owns 48,267 shares of the industrial products company’s stock worth $8,710,000 after purchasing an additional 3,657 shares in the last quarter. Argent Trust Co acquired a new position in shares of Dover during the 2nd quarter worth about $374,000. Vanguard Personalized Indexing Management LLC boosted its holdings in Dover by 20.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,208 shares of the industrial products company’s stock worth $2,511,000 after buying an additional 2,425 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new position in shares of Dover during the second quarter valued at approximately $845,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Up 0.3 %

Shares of NYSE:DOV opened at $195.00 on Friday. The company has a market capitalization of $26.75 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 2.15 and a beta of 1.23. Dover Co. has a 12-month low of $144.63 and a 12-month high of $208.26. The business has a 50-day moving average price of $196.15 and a 200 day moving average price of $189.03. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Friday, November 29th. Dover’s dividend payout ratio (DPR) is 18.43%.

Wall Street Analysts Forecast Growth

DOV has been the subject of several research reports. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research note on Monday, October 28th. Oppenheimer reiterated an “outperform” rating and issued a $215.00 target price (up from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Mizuho upped their price objective on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Wells Fargo & Company lowered their target price on Dover from $205.00 to $200.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group increased their price target on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $212.55.

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.