Invesco Ltd. increased its stake in shares of Dover Co. (NYSE:DOV - Free Report) by 10.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,179,207 shares of the industrial products company's stock after acquiring an additional 114,719 shares during the quarter. Invesco Ltd. owned about 0.86% of Dover worth $221,219,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Financial Life Planners acquired a new position in Dover during the 4th quarter worth approximately $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 position in shares of Dover by 79.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock worth $37,000 after acquiring an additional 87 shares in the last quarter. Kieckhefer Group LLC bought a new position in shares of Dover in the 4th quarter valued at $38,000. Finally, Golden State Wealth Management LLC acquired a new position in Dover during the fourth quarter worth about $46,000. Institutional investors own 84.46% of the company's stock.
Wall Street Analyst Weigh In
DOV has been the topic of several recent research reports. Citigroup cut their target price on shares of Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a research report on Monday. Wells Fargo & Company increased 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 downgraded shares of Dover from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Morgan Stanley initiated coverage on Dover in a research note on Monday. They set an "equal weight" rating and a $185.00 price objective on the stock. Finally, UBS Group reduced their target price on Dover from $217.00 to $211.00 and set a "neutral" rating for the company in a report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Dover presently has a consensus rating of "Moderate Buy" and an average target price of $208.17.
Check Out Our Latest Stock Analysis on Dover
Dover Trading Down 0.9 %
DOV stock traded down $1.41 during mid-day trading on Wednesday, reaching $161.87. The company had a trading volume of 1,173,930 shares, compared to its average volume of 957,505. 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 firm has a 50 day moving average of $183.16 and a 200 day moving average of $191.09. The company has a market capitalization of $22.19 billion, a PE ratio of 8.32, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. 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 results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, hitting analysts' consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. On average, equities analysts predict that Dover Co. will post 9.45 earnings per share for the current fiscal year.
Dover Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.515 dividend. The ex-dividend date was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a yield of 1.27%. Dover's payout ratio 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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