Dover Co. (NYSE:DOV) Shares Purchased by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Dover Co. (NYSE:DOV - Free Report) by 11.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,612 shares of the industrial products company's stock after buying an additional 7,773 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of Dover worth $14,748,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Wolverine Asset Management LLC increased its holdings in Dover by 78.6% in the 4th quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company's stock valued at $2,345,000 after purchasing an additional 5,500 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Dover by 195.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company's stock worth $17,077,000 after buying an additional 60,235 shares during the period. Principal Financial Group Inc. grew its stake in shares of Dover by 3.1% in the third quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company's stock valued at $34,100,000 after buying an additional 5,372 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Dover by 1.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 27,626 shares of the industrial products company's stock valued at $5,183,000 after buying an additional 444 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in Dover by 28.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 23,831 shares of the industrial products company's stock worth $4,471,000 after acquiring an additional 5,289 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DOV has been the topic of a number of recent research reports. Oppenheimer reiterated an "outperform" rating and set a $225.00 price target (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 $236.00 to $222.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Royal Bank of Canada upped their price objective on Dover from $196.00 to $214.00 and gave the stock a "sector perform" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on Dover from $208.00 to $230.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Finally, UBS Group cut their price target on Dover from $217.00 to $211.00 and set a "neutral" rating on the stock in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Dover has an average rating of "Moderate Buy" and a consensus target price of $218.18.

Dover Stock Up 0.5 %

Dover stock traded up $0.83 during mid-day trading on Wednesday, hitting $177.30. The company had a trading volume of 215,741 shares, compared to its average volume of 923,677. The stock has a market cap of $24.30 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 2.06 and a beta of 1.24. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Dover Co. has a 1 year low of $168.20 and a 1 year high of $222.31. The business has a fifty day moving average of $192.80 and a 200 day moving average of $193.58.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, hitting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, sell-side analysts expect that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.515 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.16%. Dover's dividend payout ratio (DPR) is presently 10.59%.

About Dover

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.