Canada Pension Plan Investment Board decreased its position in shares of Dover Co. (NYSE:DOV - Free Report) by 15.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,007 shares of the industrial products company's stock after selling 4,279 shares during the period. Canada Pension Plan Investment Board's holdings in Dover were worth $4,316,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DOV. Vanguard Group Inc. increased its holdings in shares of Dover by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company's stock valued at $3,045,772,000 after acquiring an additional 57,453 shares during the period. Geode Capital Management LLC increased its stake in Dover by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company's stock valued at $618,068,000 after purchasing an additional 74,541 shares during the period. FMR LLC increased its stake in Dover by 1.1% in the fourth quarter. FMR LLC now owns 3,118,391 shares of the industrial products company's stock valued at $585,010,000 after purchasing an additional 32,565 shares during the period. Norges Bank purchased a new stake in shares of Dover in the fourth quarter valued at about $316,228,000. Finally, Invesco Ltd. boosted its stake in shares of 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 buying an additional 114,719 shares during the period. Hedge funds and other institutional investors own 84.46% of the company's stock.
Wall Street Analyst Weigh In
DOV has been the subject of several analyst reports. Morgan Stanley assumed coverage on Dover in a research note on Monday, April 14th. They set an "equal weight" rating and a $185.00 price objective for the company. Barclays decreased their price target on Dover from $205.00 to $180.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Oppenheimer reissued an "outperform" rating and issued a $225.00 price objective (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Citigroup reduced their target price on shares of Dover from $244.00 to $201.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, StockNews.com lowered shares of Dover from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Dover has an average rating of "Moderate Buy" and a consensus target price of $208.17.
View Our Latest Research Report on DOV
Dover Price Performance
DOV stock opened at $163.55 on Wednesday. The firm has a 50 day moving average of $179.01 and a 200-day moving average of $190.07. The company has a market cap of $22.42 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 2.06 and a beta of 1.24. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. Dover Co. has a 12-month low of $143.04 and a 12-month high of $222.31.
Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) 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 analysts expect that Dover Co. will post 9.45 EPS for the current fiscal year.
Dover Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.515 per share. The ex-dividend date was Friday, February 28th. This represents a $2.06 annualized dividend and a yield of 1.26%. Dover's dividend payout ratio (DPR) is currently 10.59%.
About Dover
(
Free Report)
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.
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