Headlands Technologies LLC Grows Stake in Dover Co. (NYSE:DOV)

Headlands Technologies LLC grew its stake in shares of Dover Co. (NYSE:DOV - Free Report) by 167.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,228 shares of the industrial products company's stock after buying an additional 4,526 shares during the quarter. Headlands Technologies LLC's holdings in Dover were worth $1,356,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings 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 worth $3,045,772,000 after purchasing an additional 57,453 shares during the last quarter. State Street Corp grew its holdings in Dover by 0.9% during the 3rd quarter. State Street Corp now owns 6,214,308 shares of the industrial products company's stock worth $1,191,531,000 after acquiring an additional 56,149 shares during the last quarter. Geode Capital Management LLC increased its position in 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 acquiring an additional 74,541 shares during the period. Norges Bank bought a new position in shares of Dover during the fourth quarter valued at $316,228,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Dover by 2.1% during the fourth 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. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on DOV. Royal Bank of Canada lifted their target price on Dover from $196.00 to $214.00 and gave the stock a "sector perform" rating in a report on Friday, January 31st. Wells Fargo & Company lifted their price objective on Dover from $200.00 to $215.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. Oppenheimer restated an "outperform" rating and set a $225.00 price target (up previously from $220.00) on shares of Dover in a report on Friday, January 31st. Citigroup reduced their price objective on shares of Dover from $236.00 to $222.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Finally, The Goldman Sachs Group upped their price target on shares of Dover from $202.00 to $223.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $218.18.

Dover Stock Down 5.6 %

DOV traded down $9.04 during midday trading on Friday, reaching $153.69. 1,607,557 shares of the company were exchanged, compared to its average volume of 929,704. The company's fifty day moving average price is $190.78 and its 200 day moving average price is $193.07. Dover Co. has a one year low of $150.60 and a one year high of $222.31. The company has a market cap of $21.06 billion, a price-to-earnings ratio of 7.90, a price-to-earnings-growth 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 (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 (EPS) for the quarter, hitting analysts' consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. As a group, analysts expect that Dover Co. will post 9.45 EPS for the current year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Friday, February 28th. Dover's dividend payout ratio is presently 10.59%.

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.