Avanza Fonder AB Makes New $2.35 Million Investment in Dover Co. (NYSE:DOV)

Avanza Fonder AB bought a new stake in shares of Dover Co. (NYSE:DOV) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,548 shares of the industrial products company’s stock, valued at approximately $2,354,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Versor Investments LP purchased a new position in Dover during the 3rd quarter valued at $1,920,000. Brendel Financial Advisors LLC increased its position in shares of Dover by 347.7% during the third quarter. Brendel Financial Advisors LLC now owns 22,772 shares of the industrial products company’s stock valued at $4,366,000 after buying an additional 17,685 shares during the period. Principal Financial Group Inc. raised its stake in Dover by 3.1% in the third quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock worth $34,100,000 after buying an additional 5,372 shares in the last quarter. Empowered Funds LLC lifted its holdings in Dover by 54.3% in the third quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock worth $2,523,000 after buying an additional 4,629 shares during the period. Finally, Virtu Financial LLC boosted its position in Dover by 85.1% during the 3rd quarter. Virtu Financial LLC now owns 14,373 shares of the industrial products company’s stock valued at $2,756,000 after acquiring an additional 6,608 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on DOV shares. Barclays raised their target price on Dover from $190.00 to $205.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. The Goldman Sachs Group boosted their target price on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Wells Fargo & Company reduced their target price on shares of Dover from $205.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their price objective on shares of Dover from $212.00 to $208.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, UBS Group assumed coverage on shares of Dover in a research note on Wednesday, November 13th. They set a “neutral” rating and a $217.00 target price for the company. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $212.55.

Dover Stock Up 0.3 %

Dover stock opened at $195.00 on Friday. Dover Co. has a 12 month low of $144.63 and a 12 month high of $208.26. The stock has a fifty day simple moving average of $196.15 and a two-hundred day simple moving average of $189.03. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The firm has a market cap of $26.75 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 2.15 and a beta of 1.23.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Friday, November 29th. Dover’s dividend payout ratio (DPR) is 18.43%.

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.