Resona Asset Management Co. Ltd. Takes Position in Dover Co. (NYSE:DOV)

Resona Asset Management Co. Ltd. purchased a new position in shares of Dover Co. (NYSE:DOV) during the fourth quarter, HoldingsChannel reports. The fund purchased 50,865 shares of the industrial products company’s stock, valued at approximately $9,553,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Wolverine Asset Management LLC increased its holdings in shares of Dover by 78.6% during the fourth quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company’s stock worth $2,345,000 after purchasing an additional 5,500 shares during the period. Assenagon Asset Management S.A. grew its position in Dover by 195.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock worth $17,077,000 after buying an additional 60,235 shares in the last quarter. Principal Financial Group Inc. increased its stake in Dover by 3.1% during 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 during the period. Commonwealth Equity Services LLC raised its holdings in Dover by 1.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 27,626 shares of the industrial products company’s stock valued at $5,183,000 after acquiring an additional 444 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in Dover by 28.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 23,831 shares of the industrial products company’s stock valued at $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.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on DOV shares. 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 research report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on shares of Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Barclays cut their price target on shares of Dover from $213.00 to $205.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Royal Bank of Canada upped their target price on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Finally, StockNews.com cut Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.18.

Dover Price Performance

Shares of DOV opened at $153.69 on Monday. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $21.06 billion, a PE ratio of 7.90, a PEG ratio of 2.06 and a beta of 1.24. Dover Co. has a 12-month low of $148.08 and a 12-month high of $222.31. The business has a 50-day simple moving average of $190.78 and a two-hundred day simple moving average of $193.12.

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

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors 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 annualized dividend and a dividend yield of 1.34%. Dover’s dividend payout ratio is 10.59%.

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.