Jones Financial Companies Lllp boosted its stake in Dover Co. (NYSE:DOV - Free Report) by 80.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,255 shares of the industrial products company's stock after acquiring an additional 4,121 shares during the period. Jones Financial Companies Lllp's holdings in Dover were worth $1,736,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its stake in shares of Dover by 54.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,262 shares of the industrial products company's stock valued at $235,000 after purchasing an additional 446 shares during the last quarter. Bridges Investment Management Inc. purchased a new stake in shares of Dover in the fourth quarter valued at about $258,000. Metis Global Partners LLC increased its stake in shares of Dover by 5.0% during the fourth quarter. Metis Global Partners LLC now owns 4,621 shares of the industrial products company's stock worth $867,000 after acquiring an additional 219 shares during the period. SVB Wealth LLC purchased a new position in Dover during the fourth quarter worth about $2,980,000. Finally, Mutual of America Capital Management LLC lifted its position in Dover by 1.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 44,312 shares of the industrial products company's stock valued at $8,313,000 after purchasing an additional 441 shares during the period. Institutional investors and hedge funds own 84.46% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group increased their target price on Dover from $202.00 to $223.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Oppenheimer reiterated an "outperform" rating and set a $225.00 price target (up from $220.00) on shares of Dover in a research report on Friday, January 31st. StockNews.com lowered Dover from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. JPMorgan Chase & Co. raised their price objective on Dover from $208.00 to $230.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, Citigroup decreased their target price on Dover from $236.00 to $222.00 and set a "buy" rating on the stock in a research report on Monday, January 13th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Dover presently has an average rating of "Moderate Buy" and an average target price of $218.91.
Check Out Our Latest Report on Dover
Dover Price Performance
NYSE DOV traded down $7.67 on Monday, reaching $177.97. 1,608,823 shares of the stock traded hands, compared to its average volume of 887,462. Dover Co. has a 12 month low of $168.20 and a 12 month high of $222.31. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The company has a market cap of $24.42 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 2.06 and a beta of 1.24. The firm's fifty day simple moving average is $195.85 and its 200 day simple moving average is $193.76.
Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings data 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, research analysts predict that Dover Co. will post 9.45 EPS for the current fiscal year.
Dover Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, February 28th. Dover's payout ratio is 10.59%.
Dover Profile
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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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