Zurich Insurance Group Ltd FI Invests $1.78 Million in Dover Co. (NYSE:DOV)

Zurich Insurance Group Ltd FI bought a new stake in Dover Co. (NYSE:DOV) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 9,500 shares of the industrial products company’s stock, valued at approximately $1,782,000.

Several other hedge funds also recently made changes to their positions in the company. Wolverine Asset Management LLC lifted its position in Dover by 78.6% during 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 during the period. Westpac Banking Corp lifted its position in Dover by 1,332.8% during the 4th quarter. Westpac Banking Corp now owns 24,486 shares of the industrial products company’s stock valued at $4,594,000 after acquiring an additional 22,777 shares during the period. Commonwealth Equity Services LLC boosted its stake in Dover by 1.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 27,626 shares of the industrial products company’s stock worth $5,183,000 after acquiring an additional 444 shares in the last quarter. Bank of Montreal Can grew its holdings in Dover by 3.7% in the fourth quarter. Bank of Montreal Can now owns 154,311 shares of the industrial products company’s stock worth $28,949,000 after purchasing an additional 5,469 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Dover by 4.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 253,376 shares of the industrial products company’s stock valued at $47,533,000 after purchasing an additional 11,592 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wells Fargo & Company upped 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. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Morgan Stanley began coverage on Dover in a research report on Monday, April 14th. They issued an “equal weight” rating and a $185.00 price target for the company. Mizuho set a $215.00 price target on shares of Dover in a research note on Friday. Finally, Robert W. Baird cut their price objective on shares of Dover from $238.00 to $219.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $207.75.

Dover Price Performance

NYSE DOV opened at $184.19 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The company has a market capitalization of $25.25 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 2.06 and a beta of 1.28. The stock has a 50-day moving average of $172.05 and a 200 day moving average of $188.07. Dover Co. has a one year low of $143.04 and a one year high of $222.31.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.06. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. Dover had a net margin of 32.95% and a return on equity of 21.03%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the business posted $1.95 earnings per share. On average, sell-side analysts forecast that Dover Co. will post 9.45 EPS for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.515 per share. The ex-dividend date is Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.12%. Dover’s dividend payout ratio is presently 12.41%.

Dover 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.