Nomura Asset Management Co. Ltd. grew its stake in shares of Dover Corp (NYSE:DOV) by 13.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 49,766 shares of the industrial products company’s stock after purchasing an additional 5,879 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Dover were worth $3,531,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. lifted its position in shares of Dover by 17.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 41,697 shares of the industrial products company’s stock valued at $3,691,000 after buying an additional 6,231 shares in the last quarter. Chicago Equity Partners LLC bought a new position in shares of Dover during the 3rd quarter valued at approximately $565,000. Private Advisor Group LLC grew its position in Dover by 94.8% in the 3rd quarter. Private Advisor Group LLC now owns 7,497 shares of the industrial products company’s stock valued at $664,000 after acquiring an additional 3,649 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Dover by 14.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 16,406 shares of the industrial products company’s stock valued at $1,452,000 after acquiring an additional 2,090 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Dover by 14.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 44,699 shares of the industrial products company’s stock worth $3,957,000 after buying an additional 5,477 shares during the period. Institutional investors own 87.09% of the company’s stock.
DOV has been the subject of a number of research analyst reports. SunTrust Banks increased their price target on Dover to $91.00 and gave the company a “hold” rating in a research note on Wednesday, January 30th. They noted that the move was a valuation call. Oppenheimer reiterated a “hold” rating on shares of Dover in a research note on Tuesday, January 29th. UBS Group upgraded Dover from a “neutral” rating to a “buy” rating and set a $76.35 price target for the company in a research note on Thursday, January 10th. Barclays decreased their price target on Dover from $97.00 to $93.00 and set an “overweight” rating for the company in a research note on Monday, December 17th. Finally, Zacks Investment Research cut Dover from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Dover has an average rating of “Hold” and an average target price of $89.80.
Shares of DOV stock opened at $90.54 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 0.96 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $12.94 billion, a PE ratio of 18.22, a PEG ratio of 1.34 and a beta of 1.51. Dover Corp has a fifty-two week low of $65.83 and a fifty-two week high of $93.20.
Dover (NYSE:DOV) last announced its quarterly earnings data on Tuesday, January 29th. The industrial products company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.14. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. Dover had a return on equity of 24.90% and a net margin of 7.84%. The company’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.84 earnings per share. Research analysts anticipate that Dover Corp will post 5.73 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 28th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Wednesday, February 27th. Dover’s dividend payout ratio is presently 38.63%.
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Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual clamps, power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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