Mitsubishi UFJ Asset Management Co. Ltd. Increases Stock Holdings in Dover Co. (NYSE:DOV)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Dover Co. (NYSE:DOV) by 9.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 248,870 shares of the industrial products company’s stock after acquiring an additional 21,116 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Dover were worth $46,795,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Amundi raised its position in shares of Dover by 42.3% during the 4th quarter. Amundi now owns 648,525 shares of the industrial products company’s stock worth $121,417,000 after purchasing an additional 192,908 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Dover during the fourth quarter valued at approximately $30,741,000. Proficio Capital Partners LLC purchased a new position in shares of Dover in the fourth quarter valued at approximately $28,718,000. National Bank of Canada FI boosted its stake in shares of Dover by 313.7% in the third quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company’s stock worth $36,647,000 after acquiring an additional 144,930 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Dover by 26.6% during the third quarter. Barclays PLC now owns 360,291 shares of the industrial products company’s stock worth $69,082,000 after purchasing an additional 75,670 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DOV shares. JPMorgan Chase & Co. lifted their target price 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. UBS Group dropped their price objective on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Oppenheimer reissued an “outperform” rating and issued a $225.00 target price (up from $220.00) on shares of Dover in a research note on Friday, January 31st. The Goldman Sachs Group increased their price target on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $218.18.

Dover Stock Down 2.5 %

Shares of DOV opened at $174.63 on Friday. The company’s 50-day moving average price is $193.63 and its 200 day moving average price is $193.64. Dover Co. has a 12-month low of $168.20 and a 12-month high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The firm has a market cap of $23.94 billion, a P/E ratio of 8.98, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last posted its earnings results 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%. On average, sell-side analysts forecast that Dover Co. will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s dividend payout ratio (DPR) is 10.59%.

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.