Smartleaf Asset Management LLC Increases Position in Dover Co. (NYSE:DOV)

Smartleaf Asset Management LLC grew its holdings in shares of Dover Co. (NYSE:DOV) by 54.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,262 shares of the industrial products company’s stock after acquiring an additional 446 shares during the period. Smartleaf Asset Management LLC’s holdings in Dover were worth $235,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Financial Life Planners bought a new position in Dover during the 4th quarter valued at approximately $28,000. Ashton Thomas Securities LLC purchased a new stake in shares of Dover in the third quarter worth $33,000. R Squared Ltd bought a new position in shares of Dover during the fourth quarter valued at $34,000. Kieckhefer Group LLC purchased a new position in shares of Dover in the 4th quarter worth about $38,000. Finally, Golden State Wealth Management LLC bought a new position in Dover in the 4th quarter worth about $46,000. 84.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DOV shares. UBS Group decreased their target price 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 boosted their price objective on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Barclays increased their target price on Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Oppenheimer restated an “outperform” rating and issued a $225.00 price target (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. Finally, StockNews.com cut Dover from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Trading Up 3.2 %

Shares of NYSE:DOV opened at $189.91 on Thursday. The stock’s 50-day simple moving average is $196.00 and its two-hundred day simple moving average is $193.61. The stock has a market capitalization of $26.06 billion, a price-to-earnings ratio of 9.76, a PEG ratio of 2.06 and a beta of 1.24. Dover Co. has a 52-week low of $167.87 and a 52-week high of $222.31. 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 (NYSE:DOV) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. Analysts expect that Dover Co. will post 9.45 EPS for the current year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Friday, February 28th. Dover’s payout ratio is 10.59%.

About Dover

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.