UBS Group AG Has $38.12 Million Stake in Dover Co. (NYSE:DOV)

UBS Group AG lifted its stake in shares of Dover Co. (NYSE:DOV – Get Rating) by 57.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 281,501 shares of the industrial products company’s stock after acquiring an additional 102,384 shares during the period. UBS Group AG owned 0.20% of Dover worth $38,118,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Dover by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 16,895,470 shares of the industrial products company’s stock worth $2,650,899,000 after acquiring an additional 224,091 shares in the last quarter. State Street Corp lifted its holdings in shares of Dover by 3.5% in the third quarter. State Street Corp now owns 6,867,691 shares of the industrial products company’s stock worth $800,635,000 after buying an additional 231,562 shares in the last quarter. Boston Partners increased its position in shares of Dover by 3.9% in the third quarter. Boston Partners now owns 4,530,080 shares of the industrial products company’s stock worth $529,036,000 after purchasing an additional 171,924 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of Dover by 2.0% in the third quarter. Macquarie Group Ltd. now owns 3,379,487 shares of the industrial products company’s stock worth $393,981,000 after purchasing an additional 64,950 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Dover by 27.7% in the third quarter. Nuveen Asset Management LLC now owns 2,607,299 shares of the industrial products company’s stock worth $303,959,000 after purchasing an additional 565,772 shares during the last quarter. Institutional investors and hedge funds own 85.52% of the company’s stock.

Insiders Place Their Bets

In other Dover news, CFO Brad M. Cerepak sold 34,972 shares of the company’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $143.25, for a total value of $5,009,739.00. Following the completion of the sale, the chief financial officer now directly owns 73,878 shares in the company, valued at approximately $10,583,023.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. 92 Resources reiterated a “maintains” rating on shares of Dover in a research report on Thursday, April 27th. Barclays reduced their price target on Dover from $141.00 to $138.00 and set an “equal weight” rating for the company in a report on Thursday, April 6th. Citigroup raised their price target on Dover from $175.00 to $184.00 and gave the company a “buy” rating in a report on Monday, March 6th. Wells Fargo & Company reduced their price objective on Dover from $157.00 to $155.00 and set an “equal weight” rating for the company in a report on Thursday, April 13th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $174.00 price objective on shares of Dover in a report on Thursday, March 9th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $162.31.

Dover Stock Performance

Shares of Dover stock opened at $139.57 on Tuesday. The stock’s fifty day moving average is $144.66 and its two-hundred day moving average is $143.23. The company has a market capitalization of $19.52 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.15 and a beta of 1.35. The company has a quick ratio of 0.76, a current ratio of 1.32 and a debt-to-equity ratio of 0.66. Dover Co. has a 52 week low of $114.49 and a 52 week high of $160.66.

Dover (NYSE:DOV – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $1.94 EPS for the quarter, meeting the consensus estimate of $1.94. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.08 billion. Dover had a return on equity of 28.27% and a net margin of 12.51%. Dover’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.90 EPS. As a group, analysts expect that Dover Co. will post 8.99 earnings per share for the current year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be issued a $0.505 dividend. This represents a $2.02 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Tuesday, May 30th. Dover’s dividend payout ratio is 26.93%.

Dover Profile

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Dover Corp. operates as a manufacturer and solutions provider delivering innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services. It operates through the following segments: Engineered Products, Clean Energy and Fueling, Imaging and Identification, Pumps and Process Solutions, and Climate and Sustainability Technologies.