Cinctive Capital Management LP Takes Position in Dover Co. (NYSE:DOV)

Cinctive Capital Management LP acquired a new position in Dover Co. (NYSE:DOV) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,148 shares of the industrial products company’s stock, valued at approximately $3,967,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DOV. Financial Life Planners acquired a new stake in Dover in the 4th quarter worth $28,000. R Squared Ltd acquired a new position in shares of Dover during the fourth quarter valued at about $34,000. EverSource Wealth Advisors LLC lifted its stake in shares of Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after buying an additional 87 shares during the period. Kieckhefer Group LLC acquired a new stake in Dover during the fourth quarter worth about $38,000. Finally, Golden State Wealth Management LLC bought a new position in Dover during the fourth quarter valued at about $46,000. Institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on DOV. JPMorgan Chase & Co. raised their price objective on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Barclays reduced their target price on Dover from $213.00 to $205.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. The Goldman Sachs Group raised their price objective on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Wells Fargo & Company upped their target price on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $218.18.

Dover Stock Performance

NYSE DOV opened at $179.23 on Thursday. The firm has a market cap of $24.57 billion, a price-to-earnings ratio of 9.21, a PEG ratio of 2.06 and a beta of 1.24. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. Dover Co. has a 1-year low of $168.20 and a 1-year high of $222.31. The company has a 50 day moving average of $192.41 and a 200-day moving average of $193.48.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. On average, equities analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s dividend payout ratio is currently 10.59%.

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.