Meiji Yasuda Asset Management Co Ltd. Has $5.44 Million Position in Dover Co. (NYSE:DOV)

Meiji Yasuda Asset Management Co Ltd. increased its holdings in Dover Co. (NYSE:DOV) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,971 shares of the industrial products company’s stock after purchasing an additional 90 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Dover were worth $5,435,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Spire Wealth Management lifted its position in shares of Dover by 2.1% during the 4th quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock worth $464,000 after buying an additional 52 shares during the period. Independent Advisor Alliance lifted its holdings in shares of Dover by 0.3% during the third quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company’s stock valued at $3,458,000 after acquiring an additional 58 shares during the period. ORG Partners LLC boosted its stake in shares of Dover by 5.4% in the 4th quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock valued at $214,000 after purchasing an additional 58 shares in the last quarter. Trust Point Inc. grew its holdings in shares of Dover by 3.1% in the 4th quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 59 shares during the last quarter. Finally, JGP Wealth Management LLC lifted its holdings in Dover by 0.8% during the 4th quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company’s stock valued at $1,515,000 after purchasing an additional 62 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

DOV has been the topic of several research analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 price objective (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Citigroup dropped their price target on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a report on Monday, January 13th. UBS Group reduced their price objective on Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Barclays raised their target price on Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.91.

Dover Stock Performance

DOV stock opened at $185.89 on Wednesday. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Dover Co. has a twelve month low of $168.20 and a twelve month high of $222.31. The business’s fifty day moving average is $194.51 and its 200-day moving average is $193.77. The company has a market cap of $25.51 billion, a P/E ratio of 9.56, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24.

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

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.515 dividend. The ex-dividend date was Friday, February 28th. This represents a $2.06 annualized dividend and a yield of 1.11%. Dover’s dividend payout ratio (DPR) is presently 10.59%.

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.