Fisher Funds Management LTD Makes New $3.87 Million Investment in Dover Co. (NYSE:DOV)

Fisher Funds Management LTD purchased a new stake in Dover Co. (NYSE:DOV) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 20,730 shares of the industrial products company’s stock, valued at approximately $3,865,000.

Several other institutional investors and hedge funds have also made changes to their positions in DOV. Versor Investments LP bought a new stake in shares of Dover during the 3rd quarter valued at about $1,920,000. Assenagon Asset Management S.A. grew its holdings in shares of Dover by 195.6% during 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 purchasing an additional 60,235 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Dover by 3.1% during 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 purchasing an additional 5,372 shares during the last quarter. Empowered Funds LLC raised its position in shares of Dover by 54.3% during the 3rd quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock worth $2,523,000 after purchasing an additional 4,629 shares during the period. Finally, TrueWealth Advisors LLC bought a new stake in shares of Dover in the 4th quarter worth approximately $475,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Price Performance

NYSE DOV opened at $200.43 on Monday. Dover Co. has a fifty-two week low of $161.19 and a fifty-two week high of $222.31. The stock’s 50-day moving average is $195.51 and its two-hundred day moving average is $192.74. The firm has a market cap of $27.50 billion, a P/E ratio of 10.30, 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 (NYSE:DOV) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. On average, analysts anticipate that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.515 dividend. The ex-dividend date is Friday, February 28th. This represents a $2.06 annualized dividend and a dividend yield of 1.03%. Dover’s dividend payout ratio is 10.59%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DOV shares. Royal Bank of Canada upped their price target on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. The Goldman Sachs Group upped their target price on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Oppenheimer restated an “outperform” rating and issued a $225.00 price target (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research report on Monday, October 28th. Finally, UBS Group lowered their target price on Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $218.91.

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.