QRG Capital Management Inc. Grows Stake in Dover Co. (NYSE:DOV)

QRG Capital Management Inc. boosted its position in Dover Co. (NYSE:DOV) by 62.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 89,155 shares of the industrial products company’s stock after buying an additional 34,430 shares during the period. QRG Capital Management Inc.’s holdings in Dover were worth $16,725,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DOV. Private Advisor Group LLC increased its stake in Dover by 3.7% in the 3rd quarter. Private Advisor Group LLC now owns 9,139 shares of the industrial products company’s stock valued at $1,752,000 after purchasing an additional 324 shares in the last quarter. Strategic Blueprint LLC acquired a new stake in Dover during the 3rd quarter valued at $204,000. Valmark Advisers Inc. grew its holdings in Dover by 5.0% during the 3rd quarter. Valmark Advisers Inc. now owns 4,161 shares of the industrial products company’s stock valued at $798,000 after buying an additional 199 shares during the last quarter. New York State Teachers Retirement System grew its holdings in Dover by 5.4% during the 3rd quarter. New York State Teachers Retirement System now owns 144,752 shares of the industrial products company’s stock valued at $27,755,000 after buying an additional 7,478 shares during the last quarter. Finally, HM Payson & Co. grew its holdings in Dover by 5.6% during the 3rd quarter. HM Payson & Co. now owns 91,824 shares of the industrial products company’s stock valued at $17,606,000 after buying an additional 4,861 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Price Performance

Shares of Dover stock opened at $196.47 on Friday. Dover Co. has a twelve month low of $163.32 and a twelve month high of $222.31. The stock has a market capitalization of $26.96 billion, a P/E ratio of 10.10, a PEG ratio of 2.06 and a beta of 1.24. 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 business’s fifty day moving average price is $195.86 and its 200 day moving average price is $193.11.

Dover (NYSE:DOV) last issued 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 return on equity of 21.03% and a net margin of 32.95%. As a group, research analysts anticipate that Dover Co. will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.05%. The ex-dividend date is Friday, February 28th. Dover’s dividend payout ratio (DPR) is presently 10.59%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on DOV shares. Citigroup lowered their target price on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. The Goldman Sachs Group increased their target price on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. UBS Group decreased their price objective on Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Royal Bank of Canada raised their price objective on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company raised their price objective on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and an average target price of $218.91.

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.