Bridges Investment Management Inc. Invests $258,000 in Dover Co. (NYSE:DOV)

Bridges Investment Management Inc. acquired a new position in shares of Dover Co. (NYSE:DOV) during the fourth quarter, HoldingsChannel reports. The firm acquired 1,375 shares of the industrial products company’s stock, valued at approximately $258,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in DOV. Financial Life Planners bought a new stake in Dover in the 4th quarter valued at $28,000. Ashton Thomas Securities LLC bought a new stake in Dover in the 3rd quarter valued at $33,000. R Squared Ltd bought a new stake in Dover in the 4th quarter valued at $34,000. Kieckhefer Group LLC bought a new stake in Dover in the 4th quarter valued at $38,000. Finally, Golden State Wealth Management LLC bought a new stake in Dover in the 4th quarter valued at $46,000. Institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

DOV opened at $192.99 on Tuesday. The firm has a market cap of $26.48 billion, a P/E ratio of 9.92, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. Dover Co. has a 52-week low of $166.20 and a 52-week high of $222.31. 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 business’s fifty day moving average is $196.14 and its 200-day moving average is $193.61.

Dover (NYSE:DOV) last released its 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 return on equity of 21.03% and a net margin of 32.95%. Sell-side analysts expect that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Friday, February 28th. Dover’s dividend payout ratio (DPR) is currently 10.59%.

Analyst Ratings Changes

A number of research firms recently weighed in on DOV. JPMorgan Chase & Co. increased their price target on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. UBS Group dropped their price target on Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. The Goldman Sachs Group upped their price objective on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Wells Fargo & Company upped their price objective on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price objective (up from $220.00) on shares of Dover in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company 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.