Nomura Asset Management Co. Ltd. Purchases 11,592 Shares of Dover Co. (NYSE:DOV)

Nomura Asset Management Co. Ltd. boosted its position in Dover Co. (NYSE:DOV) by 4.8% in the 4th quarter, Holdings Channel reports. The firm owned 253,376 shares of the industrial products company’s stock after buying an additional 11,592 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Dover were worth $47,533,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Dover by 0.4% during the 4th 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 last quarter. State Street Corp lifted its position in shares of Dover by 0.9% during the third 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 grew its holdings in shares of Dover by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock worth $616,945,000 after purchasing an additional 25,993 shares during the last quarter. FMR LLC grew its holdings in shares of Dover by 5.1% in 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 during the last quarter. Finally, Norges Bank bought a new stake in Dover during the 4th quarter valued at about $316,228,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on DOV. JPMorgan Chase & Co. upped 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. Barclays reduced their price objective on Dover from $213.00 to $205.00 and set an “equal weight” rating on the stock in a report on Wednesday. Royal Bank of Canada upped their target price on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Citigroup cut their target price on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, Wells Fargo & Company increased their price target on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $218.18.

Dover Stock Down 2.5 %

Dover stock opened at $174.63 on Friday. The business’s 50-day simple moving average is $193.63 and its two-hundred day simple moving average is $193.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The company has a market cap of $23.94 billion, a PE ratio of 8.98, a PEG ratio of 2.06 and a beta of 1.24. Dover Co. has a fifty-two week low of $168.20 and a fifty-two week high of $222.31.

Dover (NYSE:DOV) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS 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%. Equities analysts anticipate that Dover Co. will post 9.45 EPS for the current year.

Dover Dividend Announcement

The firm also recently announced 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 yield of 1.18%. Dover’s dividend payout ratio 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.