Bank of Nova Scotia Acquires 123,331 Shares of Dover Co. (NYSE:DOV)

Bank of Nova Scotia boosted its position in shares of Dover Co. (NYSE:DOV - Free Report) by 701.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,918 shares of the industrial products company's stock after acquiring an additional 123,331 shares during the quarter. Bank of Nova Scotia owned 0.10% of Dover worth $26,436,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Financial Life Planners bought a new stake in shares of Dover in the 4th quarter valued at about $28,000. R Squared Ltd acquired a new position in Dover during the fourth quarter worth approximately $34,000. EverSource Wealth Advisors LLC raised its stake in Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock valued at $37,000 after buying an additional 87 shares during the period. Kieckhefer Group LLC acquired a new stake in shares of Dover in the fourth quarter valued at approximately $38,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Dover during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Dover Price Performance

Shares of Dover stock traded up $0.83 on Tuesday, reaching $164.49. 147,214 shares of the stock were exchanged, compared to its average volume of 1,025,222. The firm's 50 day moving average is $183.98 and its 200-day moving average is $191.28. The firm has a market cap of $22.55 billion, a PE ratio of 8.46, a P/E/G ratio of 2.06 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. Dover Co. has a one year low of $143.04 and a one year high of $222.31.

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Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. As a group, analysts anticipate that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The business 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. This represents a $2.06 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Friday, February 28th. Dover's dividend payout ratio (DPR) is presently 10.59%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on DOV shares. Barclays dropped their price target on Dover from $205.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley started coverage on shares of Dover in a research note on Monday. They set an "equal weight" rating and a $185.00 target price for the company. Wells Fargo & Company upped their price target on shares of Dover from $200.00 to $215.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. StockNews.com cut Dover from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. reduced their price target on Dover from $230.00 to $189.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Six analysts have rated the stock with a hold rating and seven have given 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 $208.17.

Dover Company 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.