Dover Co. (NYSE:DOV) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its stake in Dover Co. (NYSE:DOV - Free Report) by 11.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 126,500 shares of the industrial products company's stock after purchasing an additional 12,600 shares during the quarter. Renaissance Technologies LLC owned about 0.09% of Dover worth $23,731,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Dover by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company's stock worth $3,045,772,000 after purchasing an additional 57,453 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Dover by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company's stock valued at $618,068,000 after buying an additional 74,541 shares during the period. FMR LLC raised its position in shares of Dover by 1.1% during the 4th quarter. FMR LLC now owns 3,118,391 shares of the industrial products company's stock valued at $585,010,000 after buying an additional 32,565 shares during the period. Norges Bank acquired a new position in Dover in the fourth quarter valued at approximately $316,228,000. Finally, Invesco Ltd. increased its stake in Dover by 10.8% during the fourth quarter. Invesco Ltd. now owns 1,179,207 shares of the industrial products company's stock worth $221,219,000 after acquiring an additional 114,719 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Down 0.8 %

Shares of Dover stock traded down $1.27 during trading hours on Friday, reaching $160.69. 3,019,094 shares of the company were exchanged, compared to its average volume of 965,870. The firm has a market cap of $22.02 billion, a PE ratio of 8.26, a PEG ratio of 2.06 and a beta of 1.24. The stock's fifty day moving average is $181.49 and its 200 day moving average is $190.67. Dover Co. has a 1 year low of $143.04 and a 1 year high of $222.31. 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 (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, equities research analysts forecast that Dover Co. will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Friday, February 28th. Dover's dividend payout ratio is presently 10.59%.

Analyst Ratings Changes

DOV has been the topic of several recent analyst reports. Citigroup decreased their price target on Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a research note on Monday. JPMorgan Chase & Co. lowered their target price on shares of Dover from $230.00 to $189.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley assumed coverage on shares of Dover in a research note on Monday. They issued an "equal weight" rating and a $185.00 price target on the stock. Barclays lowered their price objective on shares of Dover from $205.00 to $180.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Finally, Oppenheimer reissued an "outperform" rating and issued a $225.00 target price (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $208.17.

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.