Patten Group Inc. Boosts Holdings in Dover Co. (NYSE:DOV)

Patten Group Inc. grew its stake in shares of Dover Co. (NYSE:DOV) by 10.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,543 shares of the industrial products company’s stock after acquiring an additional 507 shares during the period. Patten Group Inc.’s holdings in Dover were worth $1,040,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. State Street Corp increased its position in Dover by 0.9% in 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 during the last quarter. Geode Capital Management LLC increased its holdings in Dover by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock worth $616,945,000 after acquiring an additional 25,993 shares during the last quarter. FMR LLC raised its stake in Dover by 5.1% in the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after acquiring an additional 149,378 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Dover by 1.8% during the third 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 valued at $188,815,000 after purchasing an additional 17,193 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Dover by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 828,103 shares of the industrial products company’s stock worth $155,352,000 after purchasing an additional 16,763 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Price Performance

DOV stock opened at $192.99 on Tuesday. The firm has a market cap of $26.48 billion, a P/E ratio of 9.92, a P/E/G ratio of 2.06 and a beta of 1.24. The firm’s fifty day moving average is $196.14 and its 200 day moving average is $193.61. Dover Co. has a 52 week low of $166.20 and a 52 week high of $222.31. 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 (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) 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 predict that Dover Co. will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s dividend payout ratio (DPR) is currently 10.59%.

Analyst Upgrades and Downgrades

DOV has been the topic of several research reports. Wells Fargo & Company boosted their price target on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Royal Bank of Canada increased their target price on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their price target on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. The Goldman Sachs Group boosted their price objective on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Oppenheimer restated an “outperform” rating and issued a $225.00 target price (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $218.91.

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.