Dover Co. (NYSE:DOV) Shares Bought by Bank of Montreal Can

Bank of Montreal Can lifted its stake in shares of Dover Co. (NYSE:DOV - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 154,311 shares of the industrial products company's stock after acquiring an additional 5,469 shares during the quarter. Bank of Montreal Can owned approximately 0.11% of Dover worth $28,949,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wolverine Asset Management LLC raised its stake in Dover by 78.6% during the 4th quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company's stock valued at $2,345,000 after purchasing an additional 5,500 shares during the period. Westpac Banking Corp grew its position in Dover by 1,332.8% in the fourth quarter. Westpac Banking Corp now owns 24,486 shares of the industrial products company's stock worth $4,594,000 after acquiring an additional 22,777 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Dover by 195.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company's stock valued at $17,077,000 after purchasing an additional 60,235 shares during the last quarter. Principal Financial Group Inc. increased its position in Dover by 3.1% during the third quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company's stock valued at $34,100,000 after acquiring an additional 5,372 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in Dover by 1.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 27,626 shares of the industrial products company's stock worth $5,183,000 after purchasing an additional 444 shares during the period. Hedge funds and other institutional investors own 84.46% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Citigroup dropped their price objective on Dover from $244.00 to $201.00 and set a "buy" rating for the company in a report on Monday. Oppenheimer restated an "outperform" rating and issued a $225.00 price target (up from $220.00) on shares of Dover in a report on Friday, January 31st. Morgan Stanley began coverage on shares of Dover in a report on Monday. They set an "equal weight" rating and a $185.00 price objective for the company. Wells Fargo & Company upped their target price on shares of Dover from $200.00 to $215.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. Finally, StockNews.com downgraded shares of Dover from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Dover presently has an average rating of "Moderate Buy" and a consensus price target of $208.17.

Dover Stock Down 0.0 %

Shares of NYSE:DOV traded down $0.02 on Wednesday, reaching $163.26. The company had a trading volume of 292,387 shares, compared to its average volume of 1,022,535. The firm's 50 day simple moving average is $183.16 and its 200-day simple moving average is $191.09. Dover Co. has a 52-week low of $143.04 and a 52-week high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $22.38 billion, a PE ratio of 8.39, a PEG ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. As a group, analysts expect that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.515 per share. The ex-dividend date was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.26%. Dover's payout ratio is 10.59%.

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.