Dover Co. (NYSE:DOV) Shares Bought by NEOS Investment Management LLC

NEOS Investment Management LLC lifted its stake in shares of Dover Co. (NYSE:DOV) by 26.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,939 shares of the industrial products company’s stock after acquiring an additional 1,239 shares during the quarter. NEOS Investment Management LLC’s holdings in Dover were worth $1,114,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DOV. Vanguard Group Inc. increased its position in shares of Dover by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company’s stock valued at $3,045,772,000 after purchasing an additional 57,453 shares during the period. State Street Corp grew its holdings in Dover by 0.9% during the third quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock worth $1,191,531,000 after acquiring an additional 56,149 shares during the period. Geode Capital Management LLC raised its position in Dover by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock worth $616,945,000 after acquiring an additional 25,993 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Dover by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company’s stock valued at $188,815,000 after purchasing an additional 17,193 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Dover by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 828,103 shares of the industrial products company’s stock worth $155,352,000 after purchasing an additional 16,763 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Citigroup cut their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, January 13th. UBS Group reduced their price objective on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Royal Bank of Canada boosted their price objective on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and an average target price of $218.18.

Dover Price Performance

NYSE DOV opened at $174.63 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The firm has a market capitalization of $23.94 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The company has a 50 day simple moving average of $193.63 and a 200-day simple moving average of $193.64. Dover Co. has a 52-week low of $168.20 and a 52-week high of $222.31.

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

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.515 per share. The ex-dividend date was Friday, February 28th. This represents a $2.06 annualized dividend and a dividend yield of 1.18%. Dover’s dividend payout ratio is 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.