Mitsubishi UFJ Asset Management Co. Ltd. Acquires 21,116 Shares of Dover Co. (NYSE:DOV)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Dover Co. (NYSE:DOV) by 9.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 248,870 shares of the industrial products company’s stock after buying an additional 21,116 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of Dover worth $46,795,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Financial Life Planners bought a new position in shares of Dover in the 4th quarter worth $28,000. R Squared Ltd purchased a new position in Dover in the fourth quarter valued at about $34,000. EverSource Wealth Advisors LLC lifted its position in shares of Dover by 79.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after buying an additional 87 shares during the last quarter. Kieckhefer Group LLC bought a new stake in shares of Dover in the 4th quarter valued at about $38,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Dover in the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. 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 research note on Monday, January 13th. StockNews.com downgraded Dover from a “buy” rating to a “hold” rating in a research note on Wednesday. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price target (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Royal Bank of Canada boosted their price target on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research note 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. Based on data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.18.

Dover Trading Down 2.5 %

NYSE DOV opened at $174.63 on Friday. Dover Co. has a 1 year low of $168.20 and a 1 year 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. The company has a market capitalization of $23.94 billion, a PE ratio of 8.98, a P/E/G ratio of 2.06 and a beta of 1.24. The company has a fifty day moving average of $193.63 and a 200 day moving average of $193.64.

Dover (NYSE:DOV) last issued its 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%. Research analysts forecast that Dover Co. will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Friday, February 28th. Dover’s dividend payout ratio (DPR) is presently 10.59%.

Dover 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.