Norges Bank bought a new stake in shares of Dover Co. (NYSE:DOV - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,685,651 shares of the industrial products company's stock, valued at approximately $316,228,000. Norges Bank owned approximately 1.23% of Dover as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Spire Wealth Management increased its holdings in Dover by 2.1% during the 4th quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company's stock worth $464,000 after acquiring an additional 52 shares during the period. ORG Partners LLC increased its holdings in shares of Dover by 5.4% in the fourth quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company's stock worth $214,000 after purchasing an additional 58 shares during the period. Trust Point Inc. raised its position in shares of Dover by 3.1% in the fourth quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company's stock worth $367,000 after buying an additional 59 shares in the last quarter. JGP Wealth Management LLC boosted its stake in Dover by 0.8% during the fourth quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company's stock valued at $1,515,000 after buying an additional 62 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its position in Dover by 3.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,401 shares of the industrial products company's stock worth $450,000 after buying an additional 70 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.
Dover Stock Up 0.7 %
Shares of NYSE:DOV traded up $1.17 during midday trading on Monday, reaching $175.82. The company's stock had a trading volume of 1,332,181 shares, compared to its average volume of 925,852. Dover Co. has a 12-month low of $168.20 and a 12-month high of $222.31. The firm has a market capitalization of $24.10 billion, a P/E ratio of 9.04, a PEG ratio of 2.06 and a beta of 1.24. The firm has a 50 day moving average of $193.24 and a 200-day moving average of $193.64. 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 (NYSE:DOV - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share 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%. On average, research analysts anticipate that Dover Co. will post 9.45 earnings per share for the current year.
Dover Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Friday, February 28th. Dover's payout ratio is 10.59%.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. Barclays dropped their price target on Dover from $213.00 to $205.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Wells Fargo & Company lifted their price target on Dover from $200.00 to $215.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on Dover from $208.00 to $230.00 and gave the company an "overweight" rating in a research report 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. Finally, Citigroup dropped their price objective on Dover from $236.00 to $222.00 and set a "buy" rating for the company in a report on Monday, January 13th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $218.18.
Read Our Latest Research Report on DOV
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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