Alyeska Investment Group L.P. Makes New $40.35 Million Investment in Dover Co. (NYSE:DOV)

Alyeska Investment Group L.P. acquired a new stake in shares of Dover Co. (NYSE:DOV) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 215,085 shares of the industrial products company’s stock, valued at approximately $40,350,000.

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

Dover Stock Performance

Shares of DOV stock opened at $173.74 on Friday. Dover Co. has a 12 month low of $143.04 and a 12 month high of $222.31. The stock has a market cap of $23.82 billion, a PE ratio of 8.93, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The company’s fifty day moving average price is $173.81 and its 200-day moving average price is $188.99. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.06. Dover had a return on equity of 21.03% and a net margin of 32.95%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the business earned $1.95 earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. On average, equities analysts expect that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The firm 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 $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.19%. Dover’s dividend payout ratio (DPR) is presently 12.41%.

Wall Street Analyst Weigh In

DOV has been the topic of a number of recent analyst reports. Citigroup dropped their price target on Dover from $244.00 to $201.00 and set a “buy” rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. lowered their target price on Dover from $230.00 to $189.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. UBS Group decreased 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $176.00 price objective on shares of Dover in a research report on Friday, April 25th. Finally, Robert W. Baird reduced their target price on shares of Dover from $238.00 to $219.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company 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.