Raymond James Financial Inc. Purchases New Shares in Dover Co. (NYSE:DOV)

Raymond James Financial Inc. acquired a new stake in Dover Co. (NYSE:DOV - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 163,864 shares of the industrial products company's stock, valued at approximately $30,741,000. Raymond James Financial Inc. owned approximately 0.12% of Dover at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Dover by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company's stock valued at $3,045,772,000 after purchasing an additional 57,453 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Dover by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company's stock valued at $618,068,000 after acquiring an additional 74,541 shares during the last quarter. FMR LLC grew its stake in shares of Dover by 1.1% in the fourth quarter. FMR LLC now owns 3,118,391 shares of the industrial products company's stock worth $585,010,000 after acquiring an additional 32,565 shares during the period. Norges Bank bought a new position in Dover during the fourth quarter valued at approximately $316,228,000. Finally, Invesco Ltd. boosted its holdings in Dover by 10.8% in the fourth quarter. Invesco Ltd. now owns 1,179,207 shares of the industrial products company's stock worth $221,219,000 after purchasing an additional 114,719 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on DOV. JPMorgan Chase & Co. dropped their price target on Dover from $230.00 to $189.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Oppenheimer reissued an "outperform" rating and issued a $225.00 target price (up from $220.00) on shares of Dover in a research report on Friday, January 31st. StockNews.com cut shares of Dover from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Royal Bank of Canada boosted their target price on shares of Dover from $196.00 to $214.00 and gave the company a "sector perform" rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company increased their price target on shares of Dover from $200.00 to $215.00 and gave the stock an "equal weight" rating in a research 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $208.17.

Dover Price Performance

Shares of NYSE:DOV traded up $6.12 during trading on Wednesday, hitting $169.68. 415,210 shares of the company's stock were exchanged, compared to its average volume of 965,698. The business's 50-day simple moving average is $179.01 and its 200 day simple moving average is $190.07. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. Dover Co. has a 52-week low of $143.04 and a 52-week high of $222.31. The company has a market cap of $23.26 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV - Get Free Report) last released its 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%. As a group, equities analysts predict that Dover Co. will post 9.45 EPS for the current year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.515 dividend. The ex-dividend date was Friday, February 28th. This represents a $2.06 annualized dividend and a dividend yield of 1.21%. Dover's dividend payout ratio (DPR) is 10.59%.

Dover Company Profile

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.