Assenagon Asset Management S.A. Grows Position in Dover Co. (NYSE:DOV)

Assenagon Asset Management S.A. grew its stake in Dover Co. (NYSE:DOV - Free Report) by 195.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 91,031 shares of the industrial products company's stock after acquiring an additional 60,235 shares during the quarter. Assenagon Asset Management S.A. owned 0.07% of Dover worth $17,077,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Dover during the 3rd quarter valued at about $33,000. Fairscale Capital LLC purchased a new stake in shares of Dover during the second quarter valued at approximately $34,000. Kieckhefer Group LLC bought a new stake in shares of Dover during the fourth quarter valued at approximately $38,000. Avior Wealth Management LLC raised its holdings 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 acquiring an additional 167 shares during the last quarter. Finally, Coastline Trust Co purchased a new stake in Dover during the 3rd quarter valued at $50,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on DOV shares. Wolfe Research upgraded Dover from a "peer perform" rating to an "outperform" rating and set a $227.00 price objective for the company in a report on Monday, October 28th. UBS Group initiated coverage on shares of Dover in a report on Wednesday, November 13th. They set a "neutral" rating and a $217.00 price objective for the company. StockNews.com cut shares of Dover from a "buy" rating to a "hold" rating in a report on Wednesday. Oppenheimer reiterated an "outperform" rating and set a $215.00 target price (up from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Finally, Citigroup cut their price objective on Dover from $236.00 to $222.00 and set a "buy" rating for the company in a report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $212.55.

Dover Price Performance

Shares of DOV traded up $0.52 during mid-day trading on Friday, reaching $195.00. The stock had a trading volume of 799,294 shares, compared to its average volume of 612,650. The business has a fifty day moving average of $196.15 and a 200 day moving average of $188.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. The firm has a market cap of $26.75 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 2.15 and a beta of 1.23. Dover Co. has a 12 month low of $144.63 and a 12 month high of $208.26.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $0.515 per share. The ex-dividend date was Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a yield of 1.06%. Dover's dividend payout ratio is presently 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.