Brown Brothers Harriman & Co. Boosts Stake in Dover Co. (NYSE:DOV)

Brown Brothers Harriman & Co. grew its position in Dover Co. (NYSE:DOV) by 99.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,242 shares of the industrial products company’s stock after acquiring an additional 618 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Dover were worth $233,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Dover by 0.4% in 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 purchasing an additional 57,453 shares during the last quarter. State Street Corp grew its stake in 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 buying an additional 56,149 shares during the last quarter. Geode Capital Management LLC increased its position in Dover by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock valued at $616,945,000 after buying an additional 25,993 shares in the last quarter. Norges Bank purchased a new stake in Dover in the fourth quarter valued at about $316,228,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Dover by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 828,103 shares of the industrial products company’s stock worth $155,352,000 after acquiring an additional 16,763 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

DOV has been the topic of several research analyst reports. Barclays dropped their price target on Dover from $213.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. The Goldman Sachs Group lifted their price objective on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. JPMorgan Chase & Co. upped their price target on shares of Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Oppenheimer reiterated an “outperform” rating and set a $225.00 price objective (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.18.

Dover Stock Up 0.7 %

Shares of DOV opened at $175.82 on Tuesday. Dover Co. has a one year low of $168.20 and a one year high of $222.31. The stock has a market capitalization of $24.10 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 2.06 and a beta of 1.24. The stock has a 50 day moving average price of $193.24 and a 200 day moving average price of $193.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04.

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

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 annualized dividend and a dividend yield of 1.17%. Dover’s payout ratio is 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.