Resona Asset Management Co. Ltd. Invests $9.55 Million in Dover Co. (NYSE:DOV)

Resona Asset Management Co. Ltd. acquired a new stake in Dover Co. (NYSE:DOV) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 50,865 shares of the industrial products company’s stock, valued at approximately $9,553,000.

Several other hedge funds have also added to or reduced their stakes in DOV. Wolverine Asset Management LLC lifted its holdings in shares of Dover by 78.6% during the 4th quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company’s stock valued at $2,345,000 after purchasing an additional 5,500 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Dover by 195.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock valued at $17,077,000 after buying an additional 60,235 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Dover by 3.1% in the third quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock valued at $34,100,000 after buying an additional 5,372 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Dover by 1.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 27,626 shares of the industrial products company’s stock worth $5,183,000 after acquiring an additional 444 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Dover by 28.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 23,831 shares of the industrial products company’s stock worth $4,471,000 after acquiring an additional 5,289 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group lowered their target price on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Barclays dropped their target price on Dover from $213.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. StockNews.com downgraded Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Citigroup lowered their price objective on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, 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. 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $218.18.

Dover Stock Performance

Shares of DOV opened at $153.69 on Monday. The firm has a 50-day moving average of $190.78 and a 200-day moving average of $193.12. The company has a market cap of $21.06 billion, a PE ratio of 7.90, 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. Dover Co. has a one year low of $148.08 and a one year high of $222.31.

Dover (NYSE:DOV) last posted its earnings results 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 return on equity of 21.03% and a net margin of 32.95%. As a group, equities analysts forecast that Dover Co. will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s dividend payout ratio 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.