Dover Co. (NYSE:DOV) Shares Acquired by Empirical Finance LLC

Empirical Finance LLC increased its stake in Dover Co. (NYSE:DOV) by 3.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,127 shares of the industrial products company’s stock after acquiring an additional 170 shares during the period. Empirical Finance LLC’s holdings in Dover were worth $908,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DOV. OLD National Bancorp IN raised its stake in Dover by 10.2% in the third quarter. OLD National Bancorp IN now owns 3,459 shares of the industrial products company’s stock valued at $483,000 after buying an additional 321 shares in the last quarter. Comerica Bank acquired a new stake in Dover in the third quarter valued at $10,280,000. Public Sector Pension Investment Board raised its stake in Dover by 12.2% in the third quarter. Public Sector Pension Investment Board now owns 14,998 shares of the industrial products company’s stock valued at $2,092,000 after buying an additional 1,633 shares in the last quarter. Wellington Management Group LLP raised its stake in Dover by 2,173.8% in the third quarter. Wellington Management Group LLP now owns 817,125 shares of the industrial products company’s stock valued at $113,997,000 after buying an additional 781,189 shares in the last quarter. Finally, Headinvest LLC acquired a new stake in Dover in the third quarter valued at $32,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on DOV. Barclays lifted their target price on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Oppenheimer lifted their target price on Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Robert W. Baird lifted their target price on Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Mizuho lifted their target price on Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Wells Fargo & Company lifted their target price on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Dover has an average rating of “Moderate Buy” and an average price target of $185.75.

Dover Stock Performance

Shares of NYSE DOV traded up $2.42 during midday trading on Friday, reaching $184.52. 834,751 shares of the company were exchanged, compared to its average volume of 996,100. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58. Dover Co. has a 1 year low of $127.25 and a 1 year high of $188.64. The stock has a fifty day simple moving average of $181.25 and a 200 day simple moving average of $169.98. The stock has a market cap of $25.36 billion, a P/E ratio of 17.79, a PEG ratio of 2.17 and a beta of 1.22.

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

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Friday, May 31st. Dover’s dividend payout ratio is presently 19.60%.

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.