Van ECK Associates Corp Has $4.33 Million Stock Position in Dover Co. (NYSE:DOV)

Van ECK Associates Corp reduced its holdings in shares of Dover Co. (NYSE:DOV) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,065 shares of the industrial products company’s stock after selling 310 shares during the quarter. Van ECK Associates Corp’s holdings in Dover were worth $4,327,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in DOV. Financial Life Planners acquired a new position in shares of Dover during the fourth quarter valued at about $28,000. Ashton Thomas Securities LLC purchased a new position in Dover during the third quarter worth about $33,000. R Squared Ltd purchased a new position in Dover during the fourth quarter worth about $34,000. Kieckhefer Group LLC purchased a new position in Dover during the fourth quarter worth about $38,000. Finally, Golden State Wealth Management LLC purchased a new position in Dover during the fourth quarter worth about $46,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Performance

NYSE DOV opened at $205.21 on Wednesday. The company’s 50 day moving average is $195.35 and its 200-day moving average is $192.09. Dover Co. has a 12-month low of $159.48 and a 12-month high of $222.31. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a market cap of $28.15 billion, a P/E ratio of 10.55, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. Sell-side analysts predict that Dover Co. will post 9.47 earnings per share for the current year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s dividend payout ratio (DPR) is presently 10.59%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DOV. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a report on Monday, October 28th. The Goldman Sachs Group boosted their price target on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. lifted their price objective on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Royal Bank of Canada lifted their price objective on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.91.

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.