Westpac Banking Corp Increases Stake in Dover Co. (NYSE:DOV)

Westpac Banking Corp boosted its stake in Dover Co. (NYSE:DOV - Free Report) by 1,332.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,486 shares of the industrial products company's stock after purchasing an additional 22,777 shares during the quarter. Westpac Banking Corp's holdings in Dover were worth $4,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Financial Life Planners bought a new stake in shares of Dover during the 4th quarter worth $28,000. R Squared Ltd bought a new stake in Dover during the fourth quarter worth about $34,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Dover by 79.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock worth $37,000 after purchasing an additional 87 shares in the last quarter. Kieckhefer Group LLC bought a new position in shares of Dover during the 4th quarter valued at about $38,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Dover during the 4th quarter valued at about $46,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Trading Down 5.6 %

DOV stock traded down $9.04 during trading on Friday, reaching $153.69. The company had a trading volume of 1,607,557 shares, compared to its average volume of 929,704. The business has a 50 day moving average of $190.78 and a 200 day moving average of $193.07. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The company has a market cap of $21.06 billion, a P/E ratio of 7.90, a PEG ratio of 2.06 and a beta of 1.24. Dover Co. has a 52 week low of $150.60 and a 52 week 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 for the quarter, hitting 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, sell-side analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.34%. 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

Several brokerages have issued reports on DOV. Barclays cut their target price on Dover from $213.00 to $205.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. StockNews.com cut shares of Dover from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. 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 report on Friday, January 31st. The Goldman Sachs Group lifted their price objective on Dover from $202.00 to $223.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. increased their target price on Dover from $208.00 to $230.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.