US Asset Management LLC Invests $420,000 in Dover Co. (NYSE:DOV)

US Asset Management LLC purchased a new stake in shares of Dover Co. (NYSE:DOV) during the 4th quarter, Holdings Channel reports. The fund purchased 2,728 shares of the industrial products company’s stock, valued at approximately $420,000.

A number of other hedge funds have also bought and sold shares of DOV. AdvisorNet Financial Inc raised its stake in shares of Dover by 783.3% during the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 188 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Dover during the fourth quarter valued at about $33,000. Life Planning Partners Inc acquired a new stake in Dover in the 4th quarter worth approximately $35,000. Orion Capital Management LLC acquired a new position in Dover during the 3rd quarter valued at approximately $32,000. Finally, Headinvest LLC purchased a new position in shares of Dover in the third quarter worth $32,000. Institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

DOV has been the subject of a number of research reports. Robert W. Baird boosted their target price on shares of Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Oppenheimer upped their price objective on shares of Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Citigroup upped their price target on Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Barclays increased their target price 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 analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and an average target price of $185.75.

Insider Activity at Dover

In related news, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the completion of the transaction, the director now owns 22,955 shares in the company, valued at approximately $3,929,666.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the sale, the chief financial officer now owns 17,909 shares in the company, valued at approximately $3,164,699.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $171.19, for a total value of $256,785.00. Following the completion of the transaction, the director now owns 22,955 shares in the company, valued at $3,929,666.45. The disclosure for this sale can be found here. Insiders sold 25,910 shares of company stock worth $4,318,059 in the last 90 days. 1.30% of the stock is currently owned by company insiders.

Dover Trading Up 0.5 %

Shares of DOV stock traded up $0.99 during mid-day trading on Friday, hitting $185.94. 418,002 shares of the company’s stock were exchanged, compared to its average volume of 981,016. The stock has a market cap of $25.55 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 1.84 and a beta of 1.25. The stock has a 50-day simple moving average of $174.91 and a two-hundred day simple moving average of $156.91. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week high of $186.21. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58.

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

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a dividend of $0.51 per share. The ex-dividend date is Thursday, May 30th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.10%. Dover’s dividend payout ratio (DPR) is 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.