HighPoint Advisor Group LLC Increases Holdings in Dover Co. (NYSE:DOV)

HighPoint Advisor Group LLC lifted its position in Dover Co. (NYSE:DOV) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,254 shares of the industrial products company’s stock after buying an additional 160 shares during the period. HighPoint Advisor Group LLC’s holdings in Dover were worth $862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Townsquare Capital LLC grew its stake in shares of Dover by 16.8% during the 3rd quarter. Townsquare Capital LLC now owns 1,986 shares of the industrial products company’s stock valued at $381,000 after purchasing an additional 286 shares during the period. Public Sector Pension Investment Board boosted its holdings in shares of Dover by 13.3% in the third quarter. Public Sector Pension Investment Board now owns 5,959 shares of the industrial products company’s stock worth $1,143,000 after buying an additional 700 shares during the last quarter. Benjamin Edwards Inc. bought a new stake in Dover during the third quarter valued at approximately $218,000. Hilltop Holdings Inc. increased its holdings in Dover by 19.6% during the third quarter. Hilltop Holdings Inc. now owns 2,706 shares of the industrial products company’s stock valued at $519,000 after buying an additional 444 shares during the last quarter. Finally, Harmony Asset Management LLC boosted its stake in shares of Dover by 0.6% during the 3rd quarter. Harmony Asset Management LLC now owns 16,931 shares of the industrial products company’s stock worth $3,246,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Citigroup reduced their price objective on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Oppenheimer restated an “outperform” rating and issued a $225.00 price target (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Barclays decreased their price objective on Dover from $213.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. UBS Group cut their price objective on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $218.18.

Dover Price Performance

DOV stock opened at $176.32 on Wednesday. The company has a market capitalization of $24.17 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The company’s fifty day moving average price is $192.80 and its 200-day moving average price is $193.58. Dover Co. has a one year low of $168.20 and a one year 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.

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

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s dividend payout ratio is presently 10.59%.

Dover Company 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.