Avanza Fonder AB Invests $2.35 Million in Dover Co. (NYSE:DOV)

Avanza Fonder AB acquired a new position in Dover Co. (NYSE:DOV) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,548 shares of the industrial products company’s stock, valued at approximately $2,354,000.

Other hedge funds have also bought and sold shares of the company. JGP Wealth Management LLC grew its holdings in Dover by 0.8% during the 4th quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company’s stock valued at $1,515,000 after buying an additional 62 shares in the last quarter. Park Avenue Securities LLC grew its stake in Dover by 62.1% during the fourth quarter. Park Avenue Securities LLC now owns 8,192 shares of the industrial products company’s stock valued at $1,537,000 after acquiring an additional 3,138 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Dover by 195.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock worth $17,077,000 after acquiring an additional 60,235 shares during the period. Oak Thistle LLC purchased a new stake in Dover in the 4th quarter worth approximately $492,000. Finally, SeaCrest Wealth Management LLC boosted its holdings in Dover by 19.2% in the 4th quarter. SeaCrest Wealth Management LLC now owns 1,655 shares of the industrial products company’s stock valued at $310,000 after purchasing an additional 266 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DOV. Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research report on Monday, October 28th. UBS Group assumed coverage on Dover in a research report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price target for the company. Mizuho upped their price objective on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Oppenheimer reaffirmed an “outperform” rating and issued a $215.00 target price (up from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company dropped their price target on Dover from $205.00 to $200.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $212.55.

Dover Price Performance

DOV opened at $195.00 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. The stock’s 50 day simple moving average is $196.15 and its 200 day simple moving average is $189.03. 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 Co. has a 1 year low of $144.63 and a 1 year high of $208.26.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Friday, November 29th. Dover’s payout ratio is 18.43%.

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.