Cinctive Capital Management LP Takes $3.97 Million Position in Dover Co. (NYSE:DOV)

Cinctive Capital Management LP purchased a new stake in shares of Dover Co. (NYSE:DOV) during the 4th quarter, Holdings Channel reports. The fund purchased 21,148 shares of the industrial products company’s stock, valued at approximately $3,967,000.

Several other hedge funds have also added to or reduced their stakes in DOV. Spire Wealth Management lifted its stake in Dover by 2.1% in the 4th quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock valued at $464,000 after acquiring an additional 52 shares in the last quarter. ORG Partners LLC raised its holdings in shares of Dover by 5.4% in the fourth quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock valued at $214,000 after purchasing an additional 58 shares during the last quarter. Trust Point Inc. lifted its position in shares of Dover by 3.1% in the fourth quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 59 shares in the last quarter. JGP Wealth Management LLC boosted its holdings in Dover by 0.8% during the fourth quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company’s stock worth $1,515,000 after purchasing an additional 62 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in Dover by 3.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,401 shares of the industrial products company’s stock valued at $450,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Price Performance

NYSE:DOV opened at $179.23 on Thursday. The company has a market cap of $24.57 billion, a P/E ratio of 9.21, a P/E/G ratio of 2.06 and a beta of 1.24. The firm’s fifty day moving average price is $192.41 and its two-hundred day moving average price is $193.48. Dover Co. has a one year low of $168.20 and a one year high of $222.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. Equities analysts expect that Dover Co. will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 annualized dividend and a yield of 1.15%. Dover’s payout ratio is currently 10.59%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Barclays reduced their price objective on shares of Dover from $213.00 to $205.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Wells Fargo & Company increased their price target on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. UBS Group lowered their price target on Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Citigroup decreased their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $225.00 price target (up from $220.00) on shares of Dover in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $218.18.

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.