AQR Capital Management LLC Acquires 63,138 Shares of Dover Co. (NYSE:DOV)

AQR Capital Management LLC boosted its stake in shares of Dover Co. (NYSE:DOV) by 117.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,099 shares of the industrial products company’s stock after purchasing an additional 63,138 shares during the quarter. AQR Capital Management LLC’s holdings in Dover were worth $21,887,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of DOV. Lido Advisors LLC lifted its stake in shares of Dover by 1.4% during the 4th quarter. Lido Advisors LLC now owns 4,918 shares of the industrial products company’s stock worth $923,000 after buying an additional 69 shares during the last quarter. Northern Trust Corp raised its holdings 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 valued at $323,896,000 after acquiring an additional 245,535 shares during the period. Quarry LP lifted its position in Dover by 257.0% during the fourth quarter. Quarry LP now owns 407 shares of the industrial products company’s stock worth $76,000 after acquiring an additional 293 shares during the last quarter. Oxford Asset Management LLP boosted its holdings in shares of Dover by 199.7% during the fourth quarter. Oxford Asset Management LLP now owns 3,446 shares of the industrial products company’s stock worth $646,000 after acquiring an additional 2,296 shares during the period. Finally, Virtus ETF Advisers LLC bought a new position in shares of Dover during the fourth quarter worth approximately $1,121,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DOV has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price target on Dover from $230.00 to $189.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $176.00 price target on shares of Dover in a research note on Friday, April 25th. Morgan Stanley assumed coverage on shares of Dover in a research report on Monday, April 14th. They set an “equal weight” rating and a $185.00 price target on the stock. Barclays boosted their price objective on shares of Dover from $180.00 to $185.00 and gave the company an “equal weight” rating in a report on Thursday, April 24th. Finally, UBS Group cut their price target on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $206.33.

Dover Price Performance

Dover stock opened at $173.74 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. Dover Co. has a 52 week low of $143.04 and a 52 week high of $222.31. The stock has a market capitalization of $23.82 billion, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The stock has a fifty day moving average of $173.81 and a 200-day moving average of $188.99.

Dover (NYSE:DOV) last posted its earnings results on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.06. The firm had revenue of $1.87 billion during 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 business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.95 earnings per share. On average, sell-side analysts expect that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.19%. Dover’s payout ratio is presently 12.41%.

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.