Quadrature Capital Ltd Makes New $1.01 Million Investment in Dover Co. (NYSE:DOV)

Quadrature Capital Ltd acquired a new position in Dover Co. (NYSE:DOV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,542 shares of the industrial products company’s stock, valued at approximately $1,006,000.

Several other hedge funds and other institutional investors have also bought and sold shares of DOV. Rafferty Asset Management LLC raised its stake in shares of Dover by 9.4% in the third quarter. Rafferty Asset Management LLC now owns 11,124 shares of the industrial products company’s stock valued at $1,552,000 after buying an additional 954 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Dover in the third quarter valued at $2,103,000. Envestnet Asset Management Inc. raised its stake in shares of Dover by 12.5% in the third quarter. Envestnet Asset Management Inc. now owns 206,041 shares of the industrial products company’s stock valued at $28,745,000 after buying an additional 22,932 shares during the period. FMR LLC raised its stake in shares of Dover by 10.5% in the third quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock valued at $333,522,000 after buying an additional 226,646 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Dover by 14.9% in the third quarter. Invesco Ltd. now owns 1,025,505 shares of the industrial products company’s stock valued at $143,068,000 after buying an additional 133,241 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DOV. Mizuho boosted their target price on Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Robert W. Baird upped their target price on Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Barclays upped their target price on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Finally, Oppenheimer upped their target price on Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $185.75.

Dover Price Performance

DOV opened at $183.30 on Friday. The stock has a market capitalization of $25.19 billion, a P/E ratio of 17.61, a PEG ratio of 2.27 and a beta of 1.24. Dover Co. has a 12-month low of $127.25 and a 12-month high of $188.64. The stock has a 50-day moving average price of $179.61 and a 200-day moving average price of $166.68. 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 (NYSE:DOV) last issued its earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.07. The company had revenue of $2.09 billion during 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%. Dover’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.94 EPS. Equities analysts predict that Dover Co. will post 9.1 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend 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.