Cannell & Spears LLC Raises Holdings in Dover Co. (NYSE:DOV)

Cannell & Spears LLC grew its stake in Dover Co. (NYSE:DOV) by 14.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,180 shares of the industrial products company’s stock after buying an additional 1,039 shares during the quarter. Cannell & Spears LLC’s holdings in Dover were worth $1,535,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Financial Life Planners purchased a new position in Dover in the fourth quarter worth approximately $28,000. R Squared Ltd acquired a new stake in shares of Dover in the 4th quarter valued at $34,000. EverSource Wealth Advisors LLC lifted its position in shares of Dover by 79.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 87 shares during the last quarter. Kieckhefer Group LLC acquired a new position in shares of Dover during the 4th quarter worth about $38,000. Finally, Golden State Wealth Management LLC acquired a new position in Dover in the fourth quarter valued at approximately $46,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Citigroup reduced their price target on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Barclays decreased their price objective on Dover from $213.00 to $205.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Oppenheimer restated an “outperform” rating and issued a $225.00 price target (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. UBS Group dropped their price objective 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, Wells Fargo & Company increased their target price on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $218.18.

Dover Stock Performance

NYSE DOV opened at $175.82 on Tuesday. 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 Co. has a 1-year low of $168.20 and a 1-year high of $222.31. The firm has a market capitalization of $24.10 billion, a P/E ratio of 9.04, a P/E/G ratio of 2.06 and a beta of 1.24. The business’s 50-day simple moving average is $193.24 and its 200-day simple moving average is $193.64.

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

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.515 per share. The ex-dividend date was Friday, February 28th. This represents a $2.06 annualized dividend and a dividend yield of 1.17%. 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.