Ethic Inc. Has $6.35 Million Holdings in Dover Co. (NYSE:DOV)

Ethic Inc. grew its position in Dover Co. (NYSE:DOV) by 32.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 33,853 shares of the industrial products company’s stock after purchasing an additional 8,242 shares during the period. Ethic Inc.’s holdings in Dover were worth $6,351,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Financial Life Planners acquired a new position in Dover in the 4th quarter valued at $28,000. R Squared Ltd bought a new stake in shares of Dover in the fourth quarter valued at about $34,000. EverSource Wealth Advisors LLC grew its stake in shares of Dover by 79.1% in the fourth 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 in the last quarter. Kieckhefer Group LLC bought a new position in Dover during the fourth quarter worth about $38,000. Finally, Golden State Wealth Management LLC acquired a new stake in Dover in the 4th quarter worth about $46,000. Institutional investors own 84.46% of the company’s stock.

Dover Price Performance

DOV stock opened at $176.08 on Friday. The stock has a market cap of $24.14 billion, a price-to-earnings ratio of 9.05, a P/E/G ratio of 2.06 and a beta of 1.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The company has a 50 day simple moving average of $171.73 and a 200 day simple moving average of $188.32. Dover Co. has a 1 year low of $143.04 and a 1 year high of $222.31.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.06. Dover had a net margin of 32.95% and a return on equity of 21.03%. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the business earned $1.95 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Research analysts anticipate that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, May 30th. Dover’s dividend payout ratio (DPR) is currently 12.41%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Citigroup lowered their target price 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 lifted their price objective on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Robert W. Baird reduced their target price on Dover from $238.00 to $219.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $176.00 price target on shares of Dover in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. decreased their target price 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. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.33.

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.