HighPoint Advisor Group LLC Increases Holdings in Dover Co. (NYSE:DOV)

HighPoint Advisor Group LLC lifted its holdings in Dover Co. (NYSE:DOV) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,254 shares of the industrial products company’s stock after acquiring an additional 160 shares during the period. HighPoint Advisor Group LLC’s holdings in Dover were worth $862,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DOV. Townsquare Capital LLC lifted its stake in shares of Dover by 16.8% in the 3rd quarter. Townsquare Capital LLC now owns 1,986 shares of the industrial products company’s stock valued at $381,000 after purchasing an additional 286 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in Dover by 13.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 5,959 shares of the industrial products company’s stock valued at $1,143,000 after buying an additional 700 shares during the period. Benjamin Edwards Inc. bought a new stake in Dover in the third quarter worth $218,000. Hilltop Holdings Inc. boosted its stake in Dover by 19.6% during the third quarter. Hilltop Holdings Inc. now owns 2,706 shares of the industrial products company’s stock worth $519,000 after buying an additional 444 shares during the period. Finally, Harmony Asset Management LLC boosted its stake in Dover by 0.6% during the third quarter. Harmony Asset Management LLC now owns 16,931 shares of the industrial products company’s stock worth $3,246,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Price Performance

Shares of DOV stock opened at $176.32 on Wednesday. Dover Co. has a twelve month low of $168.20 and a twelve 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 stock has a fifty day simple moving average of $192.80 and a two-hundred day simple moving average of $193.58. The stock has a market capitalization of $24.17 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, analysts predict that Dover Co. will post 9.45 EPS 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. This represents a $2.06 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Friday, February 28th. Dover’s dividend payout ratio (DPR) is 10.59%.

Analyst Ratings Changes

DOV has been the subject of several analyst reports. Citigroup lowered their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company 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 research note on Thursday, December 12th. Wells Fargo & Company upped their target price on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Oppenheimer reissued an “outperform” rating and set a $225.00 price target (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Finally, Royal Bank of Canada boosted their price objective on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $218.18.

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.