Scotia Capital Inc. Raises Stake in Dover Co. (NYSE:DOV)

Scotia Capital Inc. grew its position in Dover Co. (NYSE:DOV - Free Report) by 14.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,131 shares of the industrial products company's stock after buying an additional 2,601 shares during the period. Scotia Capital Inc.'s holdings in Dover were worth $3,964,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Life Planners acquired a new stake in Dover in the fourth quarter valued at approximately $28,000. R Squared Ltd acquired a new stake in shares of Dover in the 4th quarter worth $34,000. EverSource Wealth Advisors LLC grew its stake in Dover by 79.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock worth $37,000 after buying an additional 87 shares during the last quarter. Kieckhefer Group LLC acquired a new position in Dover during the 4th quarter valued at about $38,000. Finally, Golden State Wealth Management LLC purchased a new stake in Dover in the fourth quarter valued at about $46,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Price Performance

Shares of NYSE:DOV traded down $0.40 during midday trading on Tuesday, reaching $163.27. 698,092 shares of the company's stock traded hands, compared to its average volume of 956,459. The company has a market cap of $22.38 billion, a P/E ratio of 8.39, a PEG ratio of 2.06 and a beta of 1.24. The company has a fifty day simple moving average of $183.98 and a two-hundred day simple moving average of $191.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. Dover Co. has a 1 year low of $143.04 and a 1 year high of $222.31.

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Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Equities analysts predict that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.515 per share. The ex-dividend date was Friday, February 28th. This represents a $2.06 annualized dividend and a yield of 1.26%. Dover's dividend payout ratio is presently 10.59%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DOV shares. UBS Group cut their price objective on shares of Dover from $217.00 to $211.00 and set a "neutral" rating on the stock in a report on Friday, January 31st. Citigroup dropped their price objective on shares of Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a report on Monday. Wells Fargo & Company raised their target price 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. 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. Finally, Barclays decreased their target price on Dover from $205.00 to $180.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $208.17.

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.