Dover Co. (NYSE:DOV) Shares Purchased by Cibc World Markets Corp

Cibc World Markets Corp raised its holdings in shares of Dover Co. (NYSE:DOV) by 16.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,679 shares of the industrial products company’s stock after purchasing an additional 3,025 shares during the quarter. Cibc World Markets Corp’s holdings in Dover were worth $4,067,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of DOV. Wolverine Asset Management LLC grew its position in shares of Dover by 78.6% in the 4th quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company’s stock worth $2,345,000 after acquiring an additional 5,500 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Dover by 195.6% in 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 acquiring an additional 60,235 shares in the last quarter. Principal Financial Group Inc. grew its position 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 worth $34,100,000 after acquiring an additional 5,372 shares in the last quarter. Empowered Funds LLC grew its position in shares of Dover by 54.3% in the 3rd quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock worth $2,523,000 after acquiring an additional 4,629 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in shares of Dover by 28.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 23,831 shares of the industrial products company’s stock worth $4,471,000 after acquiring an additional 5,289 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Price Performance

Shares of DOV opened at $182.27 on Thursday. The firm has a market cap of $25.01 billion, a PE ratio of 9.37, a PEG ratio of 2.06 and a beta of 1.24. The firm’s 50 day moving average price is $194.78 and its 200 day moving average price is $193.54. 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 Co. has a twelve month low of $168.20 and a twelve month high of $222.31.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. As a group, research analysts expect that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.515 per share. The ex-dividend date was Friday, February 28th. This represents a $2.06 annualized dividend and a yield of 1.13%. Dover’s dividend payout ratio (DPR) is presently 10.59%.

Analysts Set New Price Targets

DOV has been the subject of several research reports. UBS Group decreased their target price on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Royal Bank of Canada raised their price target on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a 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. Wells Fargo & Company raised their price target on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Finally, StockNews.com downgraded Dover from a “buy” rating to a “hold” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $218.91.

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.