Sumitomo Mitsui Trust Group Inc. Buys 2,143 Shares of Dover Co. (NYSE:DOV)

Sumitomo Mitsui Trust Group Inc. grew its stake in Dover Co. (NYSE:DOV) by 0.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 349,904 shares of the industrial products company’s stock after acquiring an additional 2,143 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Dover were worth $65,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Spire Wealth Management raised its holdings in Dover by 2.1% in the 4th quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock valued at $464,000 after acquiring an additional 52 shares during the period. Independent Advisor Alliance grew its position in shares of Dover by 0.3% in the third quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company’s stock valued at $3,458,000 after purchasing an additional 58 shares during the last quarter. ORG Partners LLC increased its stake in shares of Dover by 5.4% during the fourth quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock worth $214,000 after purchasing an additional 58 shares during the period. Trust Point Inc. boosted its stake in Dover by 3.1% in the 4th quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 59 shares during the period. Finally, Main Street Financial Solutions LLC grew its holdings in Dover by 2.7% in the 3rd quarter. Main Street Financial Solutions LLC now owns 2,255 shares of the industrial products company’s stock valued at $432,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

DOV has been the subject of a number of research reports. Citigroup dropped their target price on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a report on Monday, January 13th. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a report on Monday, October 28th. The Goldman Sachs Group raised their target price on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Mizuho boosted their price target on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Oppenheimer restated an “outperform” rating and set a $225.00 price objective (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Stock Down 1.0 %

Shares of DOV opened at $202.59 on Monday. The firm has a 50 day simple moving average of $195.31 and a two-hundred day simple moving average of $191.11. The company has a market cap of $27.79 billion, a P/E ratio of 10.42, a P/E/G ratio of 2.03 and a beta of 1.24. Dover Co. has a one year low of $158.19 and a one year high of $222.31. 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 announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Research analysts forecast that Dover Co. will post 9.47 EPS for the current fiscal year.

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.