Principal Securities Inc. Buys 722 Shares of Dover Co. (NYSE:DOV)

Principal Securities Inc. boosted its stake in Dover Co. (NYSE:DOV) by 43.4% during the 4th quarter, HoldingsChannel reports. The fund owned 2,384 shares of the industrial products company’s stock after acquiring an additional 722 shares during the quarter. Principal Securities Inc.’s holdings in Dover were worth $447,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. State Street Corp lifted its position in Dover by 0.9% in the 3rd quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock valued at $1,191,531,000 after acquiring an additional 56,149 shares in the last quarter. Geode Capital Management LLC lifted its position in Dover by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock valued at $616,945,000 after acquiring an additional 25,993 shares in the last quarter. FMR LLC lifted its position in Dover by 5.1% in the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after acquiring an additional 149,378 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Dover by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company’s stock valued at $188,815,000 after acquiring an additional 17,193 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Dover by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 811,340 shares of the industrial products company’s stock valued at $155,566,000 after acquiring an additional 9,464 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on DOV. JPMorgan Chase & Co. boosted their price target 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. Royal Bank of Canada boosted their price target 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. Barclays boosted their price target on shares of Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. The Goldman Sachs Group boosted their price target 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, UBS Group cut their price target on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and an average price target of $218.91.

Dover Stock Down 2.9 %

Shares of DOV stock opened at $200.43 on Friday. Dover Co. has a 52-week low of $161.19 and a 52-week high of $222.31. The stock has a market cap of $27.51 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 2.04 and a beta of 1.24. The firm’s 50-day moving average is $195.51 and its 200-day moving average is $192.47. 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, meeting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. Sell-side analysts predict that Dover Co. will post 9.45 EPS for the current year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.515 dividend. The ex-dividend date is Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a yield of 1.03%. Dover’s dividend payout ratio (DPR) is currently 10.59%.

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.