Parsons Capital Management Inc. RI Raises Stake in Dover Co. (NYSE:DOV)

Parsons Capital Management Inc. RI raised its stake in shares of Dover Co. (NYSE:DOV) by 16.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,905 shares of the industrial products company’s stock after buying an additional 276 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Dover were worth $357,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DOV. Ashton Thomas Securities LLC bought a new position in shares of Dover in the third quarter valued at approximately $33,000. Kieckhefer Group LLC bought a new position in Dover in the 4th quarter valued at $38,000. Avior Wealth Management LLC boosted its holdings in Dover by 183.5% in the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 167 shares during the period. Coastline Trust Co purchased a new position in shares of Dover during the 3rd quarter valued at $50,000. Finally, Cromwell Holdings LLC increased its holdings in shares of Dover by 50.5% in the third quarter. Cromwell Holdings LLC now owns 313 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 105 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Performance

NYSE DOV opened at $197.89 on Wednesday. The firm has a market cap of $27.15 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 2.04 and a beta of 1.23. The company has a 50-day simple moving average of $195.56 and a two-hundred day simple moving average of $190.06. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. Dover Co. has a 12-month low of $148.45 and a 12-month high of $208.26.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.06 annualized dividend and a yield of 1.04%. Dover’s payout ratio is 18.43%.

Analysts Set New Price Targets

DOV has been the subject of several recent analyst reports. Oppenheimer restated an “outperform” rating and set a $215.00 target price (up from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Wells Fargo & Company dropped their price target on Dover from $205.00 to $200.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. decreased their price objective on shares of Dover from $212.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Mizuho raised their price objective on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Citigroup cut their target price 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. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $212.55.

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.