HighPoint Advisor Group LLC Makes New $623,000 Investment in Dover Co. (NYSE:DOV)

HighPoint Advisor Group LLC acquired a new position in shares of Dover Co. (NYSE:DOV) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,053 shares of the industrial products company’s stock, valued at approximately $623,000.

A number of other large investors also recently added to or reduced their stakes in the stock. AdvisorNet Financial Inc grew its holdings in shares of Dover by 783.3% during the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after buying an additional 188 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Dover during the fourth quarter worth $33,000. Life Planning Partners Inc purchased a new stake in shares of Dover during the fourth quarter worth $35,000. Orion Capital Management LLC purchased a new stake in shares of Dover during the third quarter worth $32,000. Finally, Headinvest LLC purchased a new stake in shares of Dover during the third quarter worth $32,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DOV. Wells Fargo & Company upped their target price on shares of Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Robert W. Baird upped their price objective on shares of Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Barclays upped their price objective on shares of Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Mizuho upped their price objective on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Citigroup upped their price objective on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.75.

Dover Trading Up 2.0 %

Shares of DOV stock opened at $182.81 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.89. The firm has a market cap of $25.12 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 2.20 and a beta of 1.25. The company has a 50-day moving average of $179.32 and a two-hundred day moving average of $166.29. Dover Co. has a 1-year low of $127.25 and a 1-year high of $188.64.

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

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Friday, May 31st. Dover’s dividend payout ratio (DPR) is presently 19.60%.

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.