Dover Co. (NYSE:DOV) Stake Raised by Clarity Financial LLC

Clarity Financial LLC grew its holdings in shares of Dover Co. (NYSE:DOV) by 22.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,343 shares of the industrial products company’s stock after purchasing an additional 250 shares during the period. Clarity Financial LLC’s holdings in Dover were worth $252,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. State Street Corp boosted its holdings in Dover by 0.9% during the third quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock worth $1,191,531,000 after buying an additional 56,149 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Dover by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock valued at $616,945,000 after acquiring an additional 25,993 shares during the last quarter. FMR LLC boosted its stake in shares of Dover by 5.1% during the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after acquiring an additional 149,378 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Dover by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company’s stock worth $188,815,000 after acquiring an additional 17,193 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Dover by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 811,340 shares of the industrial products company’s stock worth $155,566,000 after purchasing an additional 9,464 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Price Performance

Shares of NYSE:DOV opened at $205.27 on Friday. The business has a fifty day simple moving average of $195.60 and a 200 day simple moving average of $190.22. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. Dover Co. has a 1 year low of $148.45 and a 1 year high of $214.57. The firm has a market cap of $28.16 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 2.03 and a beta of 1.23.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 23.61% and a net margin of 18.63%. As a group, sell-side analysts predict that Dover Co. will post 8.17 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a dividend of $0.515 per share. The ex-dividend date was Friday, November 29th. This represents a $2.06 annualized dividend and a dividend yield of 1.00%. Dover’s dividend payout ratio (DPR) is 18.43%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Wells Fargo & Company dropped their price target on Dover from $205.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Citigroup dropped their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. UBS Group started coverage on shares of Dover in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 price target for the company. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research report on Monday, October 28th. Finally, The Goldman Sachs Group increased their target price on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $212.55.

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.