67,179 Shares in Dover Co. (NYSE:DOV) Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new position in Dover Co. (NYSE:DOV) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 67,179 shares of the industrial products company’s stock, valued at approximately $12,603,000.

Several other hedge funds also recently bought and sold shares of the company. Sei Investments Co. lifted its stake in Dover by 19.2% in the 4th quarter. Sei Investments Co. now owns 85,778 shares of the industrial products company’s stock worth $16,092,000 after purchasing an additional 13,840 shares in the last quarter. American Century Companies Inc. lifted its stake in Dover by 5.6% in the 4th quarter. American Century Companies Inc. now owns 761,346 shares of the industrial products company’s stock worth $142,829,000 after purchasing an additional 40,321 shares in the last quarter. Mizuho Securities USA LLC lifted its stake in Dover by 45.9% in the 4th quarter. Mizuho Securities USA LLC now owns 13,003 shares of the industrial products company’s stock worth $2,439,000 after purchasing an additional 4,090 shares in the last quarter. TD Private Client Wealth LLC lifted its stake in Dover by 128.3% in the 4th quarter. TD Private Client Wealth LLC now owns 1,016 shares of the industrial products company’s stock worth $191,000 after purchasing an additional 571 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in Dover by 23.1% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 966 shares of the industrial products company’s stock worth $181,000 after purchasing an additional 181 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of NYSE:DOV opened at $179.78 on Monday. The company has a market capitalization of $24.67 billion, a price-to-earnings ratio of 9.24, a PEG ratio of 2.06 and a beta of 1.24. Dover Co. has a 12 month low of $168.20 and a 12 month high of $222.31. The firm’s 50-day moving average is $194.60 and its 200 day moving average is $193.62. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS 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%. Research analysts predict that Dover Co. will post 9.45 EPS for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.515 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a yield of 1.15%. Dover’s dividend payout ratio is currently 10.59%.

Analyst Upgrades and Downgrades

Several brokerages have commented on DOV. Barclays boosted their price target on shares of Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Tuesday, March 18th. Citigroup decreased 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. Finally, The Goldman Sachs Group upped their target price on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and a consensus 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.