Adage Capital Partners GP L.L.C. Acquires 524,092 Shares of Dover Co. (NYSE:DOV)

Adage Capital Partners GP L.L.C. lifted its holdings in shares of Dover Co. (NYSE:DOV - Free Report) by 31.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,182,995 shares of the industrial products company's stock after purchasing an additional 524,092 shares during the period. Dover comprises approximately 0.7% of Adage Capital Partners GP L.L.C.'s investment portfolio, making the stock its 20th largest holding. Adage Capital Partners GP L.L.C. owned 1.59% of Dover worth $409,530,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Financial Life Planners purchased a new stake in Dover in the fourth quarter worth $28,000. R Squared Ltd purchased a new stake in Dover in the 4th quarter worth about $34,000. EverSource Wealth Advisors LLC raised its stake in Dover by 79.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock valued at $37,000 after acquiring an additional 87 shares during the period. Kieckhefer Group LLC purchased a new stake in Dover during the fourth quarter valued at about $38,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Dover in the fourth quarter worth about $46,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of Dover in a research report on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price objective for the company. Wells Fargo & Company boosted their price target on shares of Dover from $200.00 to $215.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. UBS Group dropped 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. Royal Bank of Canada upped their target price on Dover from $196.00 to $214.00 and gave the stock a "sector perform" rating in a research note on Friday, January 31st. Finally, Barclays dropped their price target on Dover from $205.00 to $180.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $208.17.

Dover Trading Up 3.5 %

Shares of DOV stock opened at $163.55 on Wednesday. The stock's 50-day moving average price is $179.01 and its 200-day moving average price is $190.07. Dover Co. has a 12-month low of $143.04 and a 12-month high of $222.31. The stock has a market capitalization of $22.42 billion, a price-to-earnings ratio of 8.41, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36.

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

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.515 per share. The ex-dividend date was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.26%. Dover's dividend payout ratio is presently 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.

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