Meiji Yasuda Asset Management Co Ltd. Acquires 90 Shares of Dover Co. (NYSE:DOV)

Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Dover Co. (NYSE:DOV) by 0.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 28,971 shares of the industrial products company’s stock after purchasing an additional 90 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Dover were worth $5,435,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of DOV. Spire Wealth Management lifted its position in Dover by 2.1% in the 4th quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock valued at $464,000 after acquiring an additional 52 shares in the last quarter. Independent Advisor Alliance raised its stake in shares of Dover by 0.3% in the 3rd quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company’s stock valued at $3,458,000 after purchasing an additional 58 shares during the period. ORG Partners LLC lifted its holdings in shares of Dover by 5.4% in the fourth 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. boosted its position in shares of Dover by 3.1% during the fourth quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock worth $367,000 after buying an additional 59 shares during the period. Finally, JGP Wealth Management LLC grew its holdings in shares of Dover by 0.8% during the fourth quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company’s stock worth $1,515,000 after buying an additional 62 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Barclays upped their price target on Dover from $205.00 to $213.00 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 research report on Friday, January 31st. UBS Group cut their price target on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. The Goldman Sachs Group raised their price objective on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada lifted their target price on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Dover has an average rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Stock Performance

Shares of NYSE:DOV opened at $185.89 on Wednesday. Dover Co. has a 1 year low of $168.20 and a 1 year high of $222.31. The stock has a market capitalization of $25.51 billion, a price-to-earnings ratio of 9.56, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The company’s 50 day simple moving average is $194.51 and its 200 day simple moving average is $193.77.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 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%. As a group, research analysts predict that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s dividend payout ratio is 10.59%.

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.