Sterneck Capital Management LLC Makes New $217,000 Investment in Dover Co. (NYSE:DOV)

Sterneck Capital Management LLC purchased a new stake in Dover Co. (NYSE:DOV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,155 shares of the industrial products company’s stock, valued at approximately $217,000.

A number of other institutional investors also recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new stake in shares of Dover during the third quarter worth $33,000. Fairscale Capital LLC purchased a new stake in Dover during the 2nd quarter worth about $34,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Dover during the second quarter valued at about $41,000. Avior Wealth Management LLC lifted its stake in Dover by 183.5% in the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock worth $49,000 after purchasing an additional 167 shares in the last quarter. Finally, Coastline Trust Co purchased a new position in shares of Dover during the 3rd quarter valued at $50,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research note on Monday, October 28th. UBS Group started coverage on Dover in a report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price objective for the company. 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. Mizuho boosted their price target on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group lifted their price objective on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $214.18.

Dover Stock Down 0.1 %

Shares of NYSE:DOV opened at $187.93 on Wednesday. Dover Co. has a 12-month low of $143.96 and a 12-month high of $208.26. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The stock’s 50-day moving average price is $197.05 and its 200-day moving average price is $188.55. The stock has a market capitalization of $25.78 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 2.70 and a beta of 1.23.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $0.515 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a yield of 1.10%. Dover’s dividend payout ratio (DPR) is currently 18.43%.

About Dover

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.