Dark Forest Capital Management LP Grows Holdings in Dover Co. (NYSE:DOV)

Dark Forest Capital Management LP boosted its position in shares of Dover Co. (NYSE:DOV - Free Report) by 719.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,315 shares of the industrial products company's stock after acquiring an additional 15,203 shares during the period. Dover accounts for about 0.5% of Dark Forest Capital Management LP's investment portfolio, making the stock its 21st largest position. Dark Forest Capital Management LP's holdings in Dover were worth $3,248,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Stifel Financial Corp boosted its holdings in Dover by 3.8% in the 4th quarter. Stifel Financial Corp now owns 65,046 shares of the industrial products company's stock worth $12,203,000 after buying an additional 2,375 shares during the period. TD Waterhouse Canada Inc. lifted its position in shares of Dover by 57.1% in the fourth quarter. TD Waterhouse Canada Inc. now owns 7,778 shares of the industrial products company's stock valued at $1,460,000 after acquiring an additional 2,827 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Dover by 124.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,054 shares of the industrial products company's stock worth $2,449,000 after acquiring an additional 7,231 shares during the period. MML Investors Services LLC grew its position in shares of Dover by 37.4% during the fourth quarter. MML Investors Services LLC now owns 23,013 shares of the industrial products company's stock worth $4,317,000 after purchasing an additional 6,260 shares in the last quarter. Finally, MetLife Investment Management LLC raised its stake in Dover by 1.6% during the 4th quarter. MetLife Investment Management LLC now owns 36,309 shares of the industrial products company's stock valued at $6,812,000 after purchasing an additional 574 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Up 3.5 %

Shares of DOV opened at $163.55 on Wednesday. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $179.01 and a 200 day moving average of $190.07. The company has a market cap of $22.42 billion, a PE ratio of 8.41, a P/E/G ratio of 2.06 and a beta of 1.24. Dover Co. has a 52-week low of $143.04 and a 52-week high of $222.31.

Dover (NYSE:DOV - Get Free Report) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, sell-side analysts expect that Dover Co. will post 9.45 EPS for the current year.

Dover Announces Dividend

The firm also recently announced 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 10.59%.

Analyst Upgrades and Downgrades

DOV has been the subject of a number of research analyst reports. StockNews.com lowered shares of Dover from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Citigroup reduced their price target on shares of Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Wells Fargo & Company increased their price objective on shares of Dover from $200.00 to $215.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. Morgan Stanley started coverage on Dover in a research report on Monday, April 14th. They issued an "equal weight" rating and a $185.00 target price on the stock. Finally, UBS Group cut their price target on Dover from $217.00 to $211.00 and set a "neutral" rating for the company 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 stock. According to MarketBeat.com, Dover presently has an average rating of "Moderate Buy" and a consensus target price of $208.17.

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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