SlateStone Wealth LLC Raises Stake in Dover Co. (NYSE:DOV)

SlateStone Wealth LLC raised its position in Dover Co. (NYSE:DOV) by 3.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,770 shares of the industrial products company’s stock after acquiring an additional 175 shares during the quarter. SlateStone Wealth LLC’s holdings in Dover were worth $1,082,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in DOV. Amundi lifted its stake in Dover by 42.3% in the fourth quarter. Amundi now owns 648,525 shares of the industrial products company’s stock worth $121,417,000 after acquiring an additional 192,908 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Dover in the fourth quarter worth approximately $30,741,000. Proficio Capital Partners LLC purchased a new position in Dover in the fourth quarter worth approximately $28,718,000. FMR LLC lifted its stake in Dover by 5.1% in the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after acquiring an additional 149,378 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in Dover by 313.7% in the third quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company’s stock worth $36,647,000 after acquiring an additional 144,930 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of DOV opened at $181.15 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The stock has a market capitalization of $24.86 billion, a P/E ratio of 9.31, a P/E/G ratio of 2.06 and a beta of 1.24. The company’s fifty day moving average is $195.12 and its two-hundred day moving average is $193.65. Dover Co. has a 1 year low of $168.20 and a 1 year high of $222.31.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, sell-side analysts predict 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 paid a $0.515 dividend. The ex-dividend date was Friday, February 28th. This represents a $2.06 annualized dividend and a yield of 1.14%. Dover’s dividend payout ratio is currently 10.59%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DOV shares. UBS Group reduced their price objective on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Wells Fargo & Company boosted their price objective on shares of 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 boosted their price objective on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Royal Bank of Canada boosted their price objective on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus 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.