Dover Co. (NYSE:DOV) Shares Bought by Townsquare Capital LLC

Townsquare Capital LLC boosted its stake in shares of Dover Co. (NYSE:DOV) by 29.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,572 shares of the industrial products company’s stock after acquiring an additional 586 shares during the period. Townsquare Capital LLC’s holdings in Dover were worth $483,000 at the end of the most recent quarter.

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

Dover Price Performance

Shares of NYSE DOV opened at $160.69 on Monday. The stock has a 50 day moving average of $180.65 and a two-hundred day moving average of $190.47. The stock has a market cap of $22.02 billion, a P/E ratio of 8.26, a P/E/G ratio of 2.06 and a beta of 1.24. Dover Co. has a twelve month low of $143.04 and a twelve month high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV) last announced 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 net margin of 32.95% and a return on equity of 21.03%. On average, research analysts forecast that Dover Co. will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders 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 1.28%. Dover’s payout ratio is currently 10.59%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DOV shares. Citigroup decreased their target price on shares of Dover from $244.00 to $201.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. JPMorgan Chase & Co. reduced their price target on Dover from $230.00 to $189.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada lifted their target price on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $225.00 price objective (up from $220.00) on shares of Dover in a research report on Friday, January 31st. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $208.17.

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.