Raymond James Financial Inc. Makes New Investment in Dover Co. (NYSE:DOV)

Raymond James Financial Inc. acquired a new position in shares of Dover Co. (NYSE:DOV) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 163,864 shares of the industrial products company’s stock, valued at approximately $30,741,000. Raymond James Financial Inc. owned 0.12% of Dover as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in DOV. Ashton Thomas Securities LLC acquired a new position in Dover during the third quarter worth $33,000. Apollon Wealth Management LLC raised its position in shares of Dover by 22.0% in the third quarter. Apollon Wealth Management LLC now owns 4,589 shares of the industrial products company’s stock valued at $880,000 after buying an additional 827 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Dover by 0.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 347,761 shares of the industrial products company’s stock valued at $66,680,000 after buying an additional 2,225 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Dover in the third quarter valued at about $303,000. Finally, Empower Advisory Group LLC raised its position in shares of Dover by 3.7% in the third quarter. Empower Advisory Group LLC now owns 2,030 shares of the industrial products company’s stock valued at $389,000 after buying an additional 73 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Trading Up 2.3 %

Shares of DOV stock opened at $181.15 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The firm has a market cap of $24.86 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The company has a 50-day moving average of $195.12 and a two-hundred day moving average of $193.49. Dover Co. has a 1-year low of $168.20 and a 1-year high of $222.31.

Dover (NYSE:DOV) last announced its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share 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%. On average, analysts predict that Dover Co. will post 9.45 EPS for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s dividend payout ratio (DPR) is presently 10.59%.

Analyst Ratings Changes

DOV has been the subject of a number of recent research reports. Wells Fargo & Company increased their target price on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. UBS Group reduced their target price 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. Oppenheimer reiterated an “outperform” rating and issued a $225.00 target price (up from $220.00) on shares of Dover in a research report on Friday, January 31st. Royal Bank of Canada increased their target price on shares of Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. Finally, The Goldman Sachs Group raised 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. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $218.91.

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.