Empirical Finance LLC Purchases 170 Shares of Dover Co. (NYSE:DOV)

Empirical Finance LLC lifted its position in shares of Dover Co. (NYSE:DOV) by 3.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,127 shares of the industrial products company’s stock after purchasing an additional 170 shares during the quarter. Empirical Finance LLC’s holdings in Dover were worth $908,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Dover in the fourth quarter worth $175,275,000. Wellington Management Group LLP boosted its holdings 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 worth $113,997,000 after acquiring an additional 781,189 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Dover by 15.4% in the fourth quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock worth $567,426,000 after acquiring an additional 492,577 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in Dover by 469.4% in the fourth quarter. Teacher Retirement System of Texas now owns 252,768 shares of the industrial products company’s stock worth $38,878,000 after acquiring an additional 208,378 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in Dover by 15.9% in the fourth quarter. Corient Private Wealth LLC now owns 1,150,063 shares of the industrial products company’s stock worth $176,891,000 after acquiring an additional 157,614 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Performance

DOV traded up $2.42 during midday trading on Friday, reaching $184.52. The company had a trading volume of 834,751 shares, compared to its average volume of 996,100. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average of $181.25 and a two-hundred day moving average of $169.98. The company has a market cap of $25.36 billion, a P/E ratio of 17.79, a P/E/G ratio of 2.17 and a beta of 1.22. Dover Co. has a 1 year low of $127.25 and a 1 year high of $188.64.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. The business 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%. The business’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.94 earnings per share. As a group, equities research analysts predict that Dover Co. will post 9.1 earnings per share for the current fiscal year.

Dover Announces Dividend

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

Wall Street Analyst Weigh In

DOV has been the topic of a number of research analyst reports. Robert W. Baird upped their price target on Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a 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 report on Monday, April 8th. Oppenheimer upped their price target on Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a report on Friday, April 26th. StockNews.com raised Dover from a “hold” rating to a “buy” 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 research report 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $185.75.

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.