Mitsubishi UFJ Trust & Banking Corp Raises Stock Holdings in Dover Co. (NYSE:DOV)

Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Dover Co. (NYSE:DOV) by 11.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,612 shares of the industrial products company’s stock after acquiring an additional 7,773 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of Dover worth $14,748,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Dover in the third quarter valued at about $293,000. FMR LLC increased its position in Dover by 5.1% in the 3rd 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 during the period. Brooklyn Investment Group purchased a new stake in Dover during the 3rd quarter valued at approximately $81,000. BNP Paribas Financial Markets grew its stake in shares of Dover by 12.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 207,874 shares of the industrial products company’s stock valued at $39,858,000 after purchasing an additional 23,018 shares during the last quarter. Finally, Townsquare Capital LLC increased its holdings in shares of Dover by 16.8% in the third 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 period. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Performance

Shares of DOV stock opened at $174.63 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The stock has a market cap of $23.94 billion, a PE ratio of 8.98, a P/E/G ratio of 2.06 and a beta of 1.24. Dover Co. has a 1 year low of $168.20 and a 1 year high of $222.31. The stock has a fifty day moving average price of $193.63 and a 200 day moving average price of $193.56.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 EPS 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%. Sell-side analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

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. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 annualized dividend and a dividend yield of 1.18%. Dover’s dividend payout ratio is currently 10.59%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a research report on Wednesday. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 target price (up previously from $220.00) on shares of Dover in a 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 for the company in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group increased their target price on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.