Dover Co. (NYSE:DOV) Shares Bought by Westpac Banking Corp

Westpac Banking Corp boosted its holdings in shares of Dover Co. (NYSE:DOV) by 1,332.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,486 shares of the industrial products company’s stock after purchasing an additional 22,777 shares during the quarter. Westpac Banking Corp’s holdings in Dover were worth $4,594,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of DOV. Vanguard Group Inc. raised its position in Dover by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company’s stock worth $3,045,772,000 after acquiring an additional 57,453 shares during the period. State Street Corp raised its position in shares of Dover by 0.9% during the 3rd quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock worth $1,191,531,000 after purchasing an additional 56,149 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Dover by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company’s stock worth $618,068,000 after purchasing an additional 74,541 shares during the last quarter. Norges Bank purchased a new position in Dover in the 4th quarter valued at about $316,228,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Dover by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 828,103 shares of the industrial products company’s stock worth $155,352,000 after buying an additional 16,763 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on DOV shares. Wells Fargo & Company raised their target price on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Royal Bank of Canada lifted their target price on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Barclays dropped their target price on shares of Dover from $213.00 to $205.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. UBS Group decreased their price target on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Finally, Citigroup dropped their price objective 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. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $218.18.

Dover Price Performance

DOV stock opened at $179.23 on Thursday. Dover Co. has a 52-week low of $168.20 and a 52-week high of $222.31. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $24.57 billion, a price-to-earnings ratio of 9.21, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The business has a fifty day moving average of $192.41 and a two-hundred day moving average of $193.48.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (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 anticipate that Dover Co. will post 9.45 earnings per share for the current 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 was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.15%. Dover’s payout ratio is currently 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.