Raymond James Financial Inc. Buys New Holdings in Dover Co. (NYSE:DOV)

Raymond James Financial Inc. bought a new stake in Dover Co. (NYSE:DOV) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 163,864 shares of the industrial products company’s stock, valued at approximately $30,741,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Dover by 0.9% in the third quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock valued at $1,191,531,000 after acquiring an additional 56,149 shares in the last quarter. Geode Capital Management LLC raised its holdings in Dover by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock valued at $616,945,000 after acquiring an additional 25,993 shares in the last quarter. FMR LLC raised its holdings in Dover by 5.1% in the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after acquiring an additional 149,378 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Dover by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company’s stock valued at $188,815,000 after acquiring an additional 17,193 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Dover by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 828,103 shares of the industrial products company’s stock valued at $155,352,000 after acquiring an additional 16,763 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Performance

Shares of Dover stock opened at $181.15 on Friday. The firm’s fifty day simple moving average is $195.12 and its 200-day simple moving average is $193.49. The stock has a market capitalization of $24.86 billion, a price-to-earnings ratio of 9.31, 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 company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share 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%. As a group, equities analysts forecast that Dover Co. will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.515 dividend. The ex-dividend date was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a yield of 1.14%. Dover’s dividend payout ratio (DPR) is 10.59%.

Analyst Upgrades and Downgrades

DOV has been the topic of several analyst reports. 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. Royal Bank of Canada raised their price objective on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Citigroup cut their price objective on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. The Goldman Sachs Group raised their price objective on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a report on Monday, March 10th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $218.91.

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.