Federated Hermes Inc. Acquires 11,647 Shares of Dover Co. (NYSE:DOV)

Federated Hermes Inc. lifted its holdings in shares of Dover Co. (NYSE:DOV - Free Report) by 28.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 52,442 shares of the industrial products company's stock after purchasing an additional 11,647 shares during the period. Federated Hermes Inc.'s holdings in Dover were worth $9,838,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in DOV. Vanguard Group Inc. grew its stake in shares of Dover by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company's stock valued at $3,045,772,000 after buying an additional 57,453 shares during the last quarter. Geode Capital Management LLC grew its position in Dover by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company's stock worth $618,068,000 after acquiring an additional 74,541 shares during the last quarter. Norges Bank bought a new position in Dover during the 4th quarter worth approximately $316,228,000. Charles Schwab Investment Management Inc. increased its stake in Dover by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 828,103 shares of the industrial products company's stock worth $155,352,000 after purchasing an additional 16,763 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Dover by 5.6% during the fourth quarter. American Century Companies Inc. now owns 761,346 shares of the industrial products company's stock valued at $142,829,000 after purchasing an additional 40,321 shares during the period. Hedge funds and other institutional investors own 84.46% of the company's stock.

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Analyst Ratings Changes

Several research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Dover from $200.00 to $215.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. StockNews.com cut shares of Dover from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Oppenheimer reiterated an "outperform" rating and set a $225.00 target price (up from $220.00) on shares of Dover in a report on Friday, January 31st. Barclays reduced their price target on Dover from $205.00 to $180.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Finally, Morgan Stanley began coverage on Dover in a report on Monday. They issued an "equal weight" rating and a $185.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $208.17.

Dover Stock Up 0.2 %

DOV traded up $0.30 during trading on Wednesday, reaching $163.58. The stock had a trading volume of 267,628 shares, compared to its average volume of 1,022,103. Dover Co. has a one year low of $143.04 and a one year high of $222.31. The company has a market capitalization of $22.42 billion, a price-to-earnings ratio of 8.41, a P/E/G 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. The stock's 50 day moving average is $183.16 and its two-hundred day moving average is $191.09.

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

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.515 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 annualized dividend and a dividend yield of 1.26%. Dover's dividend payout ratio is presently 10.59%.

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.