Azzad Asset Management Inc. ADV Has $3.58 Million Stake in Dover Co. (NYSE:DOV)

Azzad Asset Management Inc. ADV reduced its holdings in Dover Co. (NYSE:DOV) by 1.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,197 shares of the industrial products company’s stock after selling 222 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Dover were worth $3,579,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of DOV. Vontobel Holding Ltd. raised its position in shares of Dover by 7.2% in the fourth quarter. Vontobel Holding Ltd. now owns 25,421 shares of the industrial products company’s stock valued at $3,910,000 after buying an additional 1,718 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Dover by 5.5% in the fourth quarter. Nordea Investment Management AB now owns 557,953 shares of the industrial products company’s stock valued at $85,612,000 after acquiring an additional 29,096 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Dover by 9.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 226,382 shares of the industrial products company’s stock valued at $34,820,000 after purchasing an additional 19,156 shares during the period. Vest Financial LLC raised its holdings in Dover by 35.7% during the 4th quarter. Vest Financial LLC now owns 202,490 shares of the industrial products company’s stock worth $31,145,000 after purchasing an additional 53,273 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Dover in the 4th quarter worth approximately $175,275,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on DOV. Citigroup lifted their price objective on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Mizuho increased their price objective on shares of Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Barclays upped their price target on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Finally, Wells Fargo & Company lifted their price objective on shares of Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $185.75.

Dover Stock Down 0.1 %

Dover stock traded down $0.15 during trading hours on Wednesday, hitting $176.81. 115,974 shares of the stock traded hands, compared to its average volume of 998,914. Dover Co. has a one year low of $127.25 and a one year high of $188.64. The company has a market cap of $24.30 billion, a PE ratio of 17.00, a PEG ratio of 2.19 and a beta of 1.22. The firm’s 50-day moving average price is $181.30 and its two-hundred day moving average price is $168.99. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. Dover had a return on equity of 25.04% and a net margin of 17.28%. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the company earned $1.94 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. On average, research analysts forecast that Dover Co. will post 9.1 EPS for the current year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, May 31st. Dover’s dividend payout ratio is presently 19.60%.

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.