Dover Co. (NYSE:DOV) Stake Boosted by Tectonic Advisors LLC

Tectonic Advisors LLC increased its stake in Dover Co. (NYSE:DOV) by 10.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,685 shares of the industrial products company’s stock after purchasing an additional 248 shares during the period. Tectonic Advisors LLC’s holdings in Dover were worth $504,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its position in Dover by 27.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,302 shares of the industrial products company’s stock worth $3,629,000 after buying an additional 4,194 shares during the period. E. Ohman J or Asset Management AB increased its holdings in shares of Dover by 14.7% in the 4th quarter. E. Ohman J or Asset Management AB now owns 6,650 shares of the industrial products company’s stock worth $1,248,000 after acquiring an additional 850 shares during the period. Longboard Asset Management LP bought a new stake in Dover in the 4th quarter valued at about $214,000. Rockline Wealth Management LLC boosted its stake in Dover by 5.2% during the 4th quarter. Rockline Wealth Management LLC now owns 21,006 shares of the industrial products company’s stock valued at $3,941,000 after purchasing an additional 1,030 shares during the period. Finally, Trust Point Inc. grew its position in Dover by 3.1% in the 4th quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 59 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Performance

Shares of DOV opened at $204.93 on Thursday. Dover Co. has a 12-month low of $158.19 and a 12-month high of $222.31. The stock has a market capitalization of $28.11 billion, a P/E ratio of 10.54, a P/E/G ratio of 2.07 and a beta of 1.24. The firm’s 50 day moving average is $195.41 and its 200-day moving average is $190.69. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Equities research analysts anticipate that Dover Co. will post 9.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DOV. Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research report on Monday, October 28th. JPMorgan Chase & Co. boosted their price target on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Citigroup lowered their price target on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price objective (up previously from $220.00) on shares of Dover in a report on Friday, January 31st. Finally, Wells Fargo & Company boosted their price target on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $218.91.

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.