163,864 Shares in Dover Co. (NYSE:DOV) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in Dover Co. (NYSE:DOV) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 163,864 shares of the industrial products company’s stock, valued at approximately $30,741,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wolverine Asset Management LLC boosted its stake in shares of Dover by 78.6% in the fourth quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company’s stock valued at $2,345,000 after buying an additional 5,500 shares in the last quarter. Westpac Banking Corp boosted its position in shares of Dover by 1,332.8% during the 4th quarter. Westpac Banking Corp now owns 24,486 shares of the industrial products company’s stock worth $4,594,000 after purchasing an additional 22,777 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Dover by 195.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock worth $17,077,000 after purchasing an additional 60,235 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Dover by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock valued at $34,100,000 after purchasing an additional 5,372 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Dover by 1.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 27,626 shares of the industrial products company’s stock valued at $5,183,000 after purchasing an additional 444 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Performance

NYSE:DOV opened at $160.69 on Friday. Dover Co. has a 1-year low of $143.04 and a 1-year high of $222.31. The firm has a 50 day simple moving average of $181.49 and a 200-day simple moving average of $190.67. The firm has a market cap of $22.02 billion, a PE ratio of 8.26, a P/E/G ratio of 2.06 and a beta of 1.24. 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 (NYSE:DOV) last issued its quarterly earnings results 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 return on equity of 21.03% and a net margin of 32.95%. On average, equities analysts expect that Dover Co. will post 9.45 EPS for the current year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s dividend payout ratio (DPR) is 10.59%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DOV. Wells Fargo & Company increased their target price on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Morgan Stanley started coverage on Dover in a research report on Monday. They set an “equal weight” rating and a $185.00 target price on the stock. Royal Bank of Canada raised their price target on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price objective (up from $220.00) on shares of Dover in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Dover from $230.00 to $189.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and a consensus price target 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.