Ethic Inc. Purchases 8,242 Shares of Dover Co. (NYSE:DOV)

Ethic Inc. boosted its holdings in shares of Dover Co. (NYSE:DOV) by 32.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,853 shares of the industrial products company’s stock after acquiring an additional 8,242 shares during the period. Ethic Inc.’s holdings in Dover were worth $6,351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Norges Bank acquired a new stake in Dover during the 4th quarter worth approximately $316,228,000. Balyasny Asset Management L.P. acquired a new stake in shares of Dover during the fourth quarter worth $99,017,000. Adage Capital Partners GP L.L.C. lifted its position in Dover by 31.6% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company’s stock valued at $409,530,000 after acquiring an additional 524,092 shares in the last quarter. Northern Trust Corp boosted its stake 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 during the period. Finally, Alyeska Investment Group L.P. bought a new position in Dover during the 4th quarter worth about $40,350,000. 84.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DOV. JPMorgan Chase & Co. cut their price target on Dover from $230.00 to $189.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company boosted their target price on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $176.00 price target on shares of Dover in a research note on Friday, April 25th. Robert W. Baird cut their price objective on shares of Dover from $238.00 to $219.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Finally, Barclays raised their target price on shares of Dover from $180.00 to $185.00 and gave the company an “equal weight” rating in a research report on Thursday, April 24th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus price target of $206.33.

Dover Stock Performance

Shares of DOV opened at $176.08 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The firm has a 50-day moving average of $171.73 and a 200-day moving average of $188.32. The company has a market cap of $24.14 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 2.06 and a beta of 1.28. Dover Co. has a one year low of $143.04 and a one year high of $222.31.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, topping 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 firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the business earned $1.95 earnings per share. The business’s revenue was down .9% compared to the same quarter last year. As a group, equities analysts forecast that Dover Co. will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.17%. The ex-dividend date is Friday, May 30th. Dover’s dividend payout ratio is 12.41%.

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.