Dover Co. (NYSE:DOV) Shares Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lifted its stake in Dover Co. (NYSE:DOV) by 15.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,147 shares of the industrial products company’s stock after purchasing an additional 1,940 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Dover were worth $2,654,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in DOV. Dynamic Technology Lab Private Ltd acquired a new position in Dover during the third quarter valued at $293,000. FMR LLC increased its position in shares of Dover by 5.1% during the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after purchasing an additional 149,378 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of Dover in the third quarter worth about $81,000. BNP Paribas Financial Markets lifted its stake in Dover by 12.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 207,874 shares of the industrial products company’s stock worth $39,858,000 after purchasing an additional 23,018 shares in the last quarter. Finally, Townsquare Capital LLC grew its position 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 in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

DOV has been the subject of several analyst reports. Citigroup dropped their target price 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 decreased their target price on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Oppenheimer restated an “outperform” rating and set a $225.00 price target (up previously from $220.00) on shares of Dover in a report on Friday, January 31st. JPMorgan Chase & Co. upped 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, StockNews.com cut Dover from a “buy” rating to a “hold” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and an average price target of $218.18.

Dover Trading Down 2.5 %

Shares of Dover stock opened at $174.63 on Friday. The company has a fifty day simple moving average of $193.63 and a 200-day simple moving average of $193.56. Dover Co. has a 12-month low of $168.20 and a 12-month high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The stock has a market cap of $23.94 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, hitting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. On average, equities analysts forecast that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.515 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 annualized dividend and a yield of 1.18%. Dover’s dividend payout ratio is currently 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.