Dover Co. (NYSE:DOV) Shares Acquired by Cibc World Markets Corp

Cibc World Markets Corp lifted its stake in shares of Dover Co. (NYSE:DOV) by 16.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,679 shares of the industrial products company’s stock after acquiring an additional 3,025 shares during the period. Cibc World Markets Corp’s holdings in Dover were worth $4,067,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Financial Life Planners acquired a new stake in shares of Dover during the fourth quarter valued at $28,000. R Squared Ltd acquired a new stake in shares of Dover during the fourth quarter valued at $34,000. EverSource Wealth Advisors LLC boosted its stake 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 valued at $37,000 after acquiring an additional 87 shares during the last quarter. Kieckhefer Group LLC acquired a new stake in shares of Dover during the fourth quarter valued at $38,000. Finally, Golden State Wealth Management LLC purchased 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

DOV stock opened at $182.27 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. Dover Co. has a 1 year low of $168.20 and a 1 year high of $222.31. The firm has a market cap of $25.01 billion, a P/E ratio of 9.37, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The stock has a 50-day simple moving average of $194.78 and a 200-day simple moving average of $193.54.

Dover (NYSE:DOV) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. On average, equities analysts predict that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.515 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.13%. Dover’s dividend payout ratio (DPR) is currently 10.59%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. StockNews.com downgraded Dover from a “buy” rating to a “hold” rating in a research report on Tuesday. 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 report on Friday, January 31st. The Goldman Sachs Group increased their target price on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Oppenheimer reiterated an “outperform” rating and set a $225.00 target price (up from $220.00) on shares of Dover in a research report on Friday, January 31st. Finally, Royal Bank of Canada increased their target price on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.