Avity Investment Management Inc. Boosts Stock Holdings in Dover Co. (NYSE:DOV)

Avity Investment Management Inc. boosted its position in shares of Dover Co. (NYSE:DOV) by 46.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,993 shares of the industrial products company’s stock after buying an additional 950 shares during the period. Avity Investment Management Inc.’s holdings in Dover were worth $530,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of DOV. LPL Financial LLC increased its stake in Dover by 19.2% during the 3rd quarter. LPL Financial LLC now owns 107,154 shares of the industrial products company’s stock worth $14,949,000 after buying an additional 17,245 shares in the last quarter. Natixis Advisors L.P. grew its position in shares of Dover by 2.1% in the third quarter. Natixis Advisors L.P. now owns 108,735 shares of the industrial products company’s stock valued at $15,170,000 after purchasing an additional 2,226 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Dover by 5.1% in the third quarter. O Shaughnessy Asset Management LLC now owns 20,987 shares of the industrial products company’s stock valued at $2,928,000 after purchasing an additional 1,011 shares in the last quarter. Treasurer of the State of North Carolina grew its position in shares of Dover by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 61,289 shares of the industrial products company’s stock valued at $8,550,000 after purchasing an additional 310 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Dover by 113.5% in the third quarter. Tower Research Capital LLC TRC now owns 15,628 shares of the industrial products company’s stock valued at $2,180,000 after purchasing an additional 8,309 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Mizuho upped their price target on Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Citigroup upped their price target on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Wells Fargo & Company upped their price target on Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Robert W. Baird upped their price objective on Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Barclays upped their price objective on Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.75.

Dover Stock Up 1.1 %

Shares of NYSE DOV traded up $2.00 during mid-day trading on Friday, hitting $180.45. The company had a trading volume of 1,581,371 shares, compared to its average volume of 1,073,027. The company has a market capitalization of $24.80 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 2.21 and a beta of 1.24. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.89. Dover Co. has a 1-year low of $127.25 and a 1-year high of $188.64. The business’s 50-day simple moving average is $181.07 and its 200 day simple moving average is $168.35.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.07. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Dover had a return on equity of 25.04% and a net margin of 17.28%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the firm earned $1.94 earnings per share. On average, analysts predict that Dover Co. will post 9.1 earnings per share for the current year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Friday, May 31st. Dover’s dividend payout ratio (DPR) is presently 19.60%.

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.