Bridgewater Associates LP Buys Shares of 2,538 Dover Co. (NYSE:DOV)

Bridgewater Associates LP bought a new stake in shares of Dover Co. (NYSE:DOV - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,538 shares of the industrial products company's stock, valued at approximately $476,000.

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

Dover Stock Performance

DOV stock traded up $3.26 during trading on Thursday, reaching $169.61. 2,248,146 shares of the stock were exchanged, compared to its average volume of 978,911. The company has a market capitalization of $23.25 billion, a P/E ratio of 8.72, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. Dover Co. has a twelve month low of $143.04 and a twelve month high of $222.31. The stock has a 50 day simple moving average of $178.28 and a 200-day simple moving average of $189.91. 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 posted its earnings results on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, topping the consensus estimate of $2.01 by $0.04. Dover had a return on equity of 21.03% and a net margin of 32.95%. As a group, sell-side analysts anticipate that Dover Co. will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.21%. The ex-dividend date was Friday, February 28th. Dover's payout ratio is presently 10.59%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DOV shares. Citigroup lowered their price objective on shares of Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company increased their target price on shares of Dover from $200.00 to $215.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lowered their price target on shares of Dover from $230.00 to $189.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Morgan Stanley began coverage on Dover in a research note on Monday, April 14th. They issued an "equal weight" rating and a $185.00 target price on the stock. Finally, Royal Bank of Canada raised their price target on shares of Dover from $196.00 to $214.00 and gave the company a "sector perform" rating in a report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $208.17.

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.