Mitsubishi UFJ Asset Management Co. Ltd. Boosts Position in Dover Co. (NYSE:DOV)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Dover Co. (NYSE:DOV - Free Report) by 14.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 202,659 shares of the industrial products company's stock after acquiring an additional 25,562 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.15% of Dover worth $35,909,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. AdvisorNet Financial Inc lifted its position in Dover by 783.3% in the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company's stock worth $33,000 after buying an additional 188 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Dover in the 4th quarter worth approximately $33,000. Life Planning Partners Inc bought a new stake in Dover in the 4th quarter worth approximately $35,000. Northwest Financial Advisors purchased a new position in Dover in the 4th quarter worth approximately $36,000. Finally, North Star Investment Management Corp. increased its stake in Dover by 93.0% in the 1st quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company's stock worth $44,000 after purchasing an additional 120 shares during the period. Institutional investors own 84.46% of the company's stock.

Dover Stock Down 1.4 %

Shares of NYSE DOV traded down $2.64 during trading on Friday, reaching $183.70. The company had a trading volume of 854,725 shares, compared to its average volume of 998,130. Dover Co. has a 12-month low of $127.25 and a 12-month high of $192.31. The stock has a market cap of $25.25 billion, a PE ratio of 17.65, a P/E/G ratio of 2.30 and a beta of 1.22. The business's 50-day moving average is $181.73 and its 200 day moving average is $171.35. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58.

Dover (NYSE:DOV - Get Free Report) last released its earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, topping analysts' consensus estimates of $1.88 by $0.07. Dover had a return on equity of 25.04% and a net margin of 17.28%. The firm had revenue of $2.09 billion for the quarter, compared to analysts' expectations of $2.03 billion. During the same period in the prior year, the firm posted $1.94 earnings per share. The company's quarterly revenue was up .7% on a year-over-year basis. As a group, equities analysts forecast that Dover Co. will post 9.1 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.51 dividend. The ex-dividend date was Friday, May 31st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.11%. Dover's dividend payout ratio is currently 19.60%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. StockNews.com raised Dover from a "hold" rating to a "buy" rating in a research note on Friday, April 26th. Robert W. Baird lifted their price target on Dover from $185.00 to $208.00 and gave the stock an "outperform" rating in a research note on Friday, April 26th. Barclays boosted their target price on Dover from $180.00 to $186.00 and gave the company an "equal weight" rating in a research note on Friday, April 26th. Wells Fargo & Company boosted their target price on Dover from $177.00 to $190.00 and gave the company an "equal weight" rating in a research note on Friday, April 26th. Finally, Oppenheimer boosted their target price on Dover from $187.00 to $197.00 and gave the company an "outperform" rating in a research note on Friday, April 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Dover has an average rating of "Moderate Buy" and an average price target of $185.75.

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.