Sumitomo Mitsui Trust Group Inc. Buys 2,143 Shares of Dover Co. (NYSE:DOV)

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Dover Co. (NYSE:DOV) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 349,904 shares of the industrial products company’s stock after buying an additional 2,143 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.26% of Dover worth $65,642,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Versor Investments LP acquired a new position in Dover during the third quarter valued at approximately $1,920,000. Assenagon Asset Management S.A. boosted its position in shares of Dover by 195.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock worth $17,077,000 after purchasing an additional 60,235 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Dover by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock valued at $34,100,000 after buying an additional 5,372 shares in the last quarter. Empowered Funds LLC raised its stake in Dover by 54.3% during the 3rd quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock worth $2,523,000 after buying an additional 4,629 shares during the period. Finally, TrueWealth Advisors LLC bought a new position in Dover during the fourth quarter worth about $475,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Down 1.0 %

NYSE:DOV opened at $202.59 on Monday. The firm has a market capitalization of $27.79 billion, a price-to-earnings ratio of 10.42, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Dover Co. has a twelve month low of $158.19 and a twelve month high of $222.31. The stock’s 50 day moving average price is $195.31 and its two-hundred day moving average price is $191.11.

Dover (NYSE:DOV) last posted its quarterly earnings results 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 research analysts expect that Dover Co. will post 9.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on DOV shares. The Goldman Sachs Group increased their price target on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Oppenheimer restated an “outperform” rating and set a $225.00 target price (up from $220.00) on shares of Dover in a report on Friday, January 31st. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company raised their price objective on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Finally, Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $218.91.

Dover 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.