Azzad Asset Management Inc. ADV Sells 222 Shares of Dover Co. (NYSE:DOV)

Azzad Asset Management Inc. ADV decreased its stake in Dover Co. (NYSE:DOV) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 quarter.

Other hedge funds also recently made changes to their positions in the company. Orion Capital Management LLC bought a new stake in Dover during the 3rd quarter valued at $32,000. Headinvest LLC purchased a new stake in shares of Dover during the third quarter worth about $32,000. Exchange Traded Concepts LLC bought a new stake in shares of Dover in the fourth quarter worth about $33,000. AdvisorNet Financial Inc raised its position in Dover by 783.3% during the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 188 shares during the last quarter. Finally, Life Planning Partners Inc purchased a new stake in Dover in the 4th quarter worth approximately $35,000. 84.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Mizuho upped their price target on Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Robert W. Baird boosted their price target on Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Citigroup lifted their target price on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, April 8th. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Finally, Barclays upped their target price on shares of Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $185.75.

Dover Stock Performance

Shares of Dover stock traded down $0.15 during midday trading on Wednesday, hitting $176.81. The company had a trading volume of 115,974 shares, compared to its average volume of 998,914. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. Dover Co. has a 12-month low of $127.25 and a 12-month high of $188.64. The stock has a market cap of $24.30 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 2.19 and a beta of 1.22. The company has a fifty day simple moving average of $181.30 and a 200 day simple moving average of $168.99.

Dover (NYSE:DOV) last issued its earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.07. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Dover had a net margin of 17.28% and a return on equity of 25.04%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company posted $1.94 earnings per share. As a group, analysts predict that Dover Co. will post 9.1 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Friday, May 31st. Dover’s payout ratio is currently 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.