Comerica Bank Purchases 5,038 Shares of Dover Co. (NYSE:DOV)

Comerica Bank boosted its stake in shares of Dover Co. (NYSE:DOV - Free Report) by 12.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,957 shares of the industrial products company's stock after purchasing an additional 5,038 shares during the quarter. Comerica Bank's holdings in Dover were worth $8,621,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DOV. Vanguard Group Inc. increased its holdings in shares of Dover by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company's stock valued at $3,045,772,000 after acquiring an additional 57,453 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Dover by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company's stock valued at $618,068,000 after purchasing an additional 74,541 shares during the period. FMR LLC lifted its stake in Dover by 1.1% in the fourth quarter. FMR LLC now owns 3,118,391 shares of the industrial products company's stock valued at $585,010,000 after buying an additional 32,565 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of Dover by 31.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company's stock worth $409,530,000 after acquiring an additional 524,092 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Dover by 16.6% during the 4th quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company's stock valued at $323,896,000 after acquiring an additional 245,535 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Stock Up 0.4 %

Shares of Dover stock traded up $0.67 on Friday, hitting $175.35. The company had a trading volume of 468,416 shares, compared to its average volume of 968,287. The stock has a 50-day moving average of $171.90 and a 200-day moving average of $188.43. The firm has a market capitalization of $24.04 billion, a P/E ratio of 9.02, a P/E/G ratio of 2.06 and a beta of 1.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. Dover Co. has a twelve month low of $143.04 and a twelve month high of $222.31.

Dover (NYSE:DOV - Get Free Report) last announced its earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.99 by $0.06. Dover had a return on equity of 21.03% and a net margin of 32.95%. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the firm earned $1.95 EPS. Dover's revenue for the quarter was down .9% compared to the same quarter last year. Research analysts predict that Dover Co. will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.17%. Dover's dividend payout ratio is currently 12.41%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DOV shares. JPMorgan Chase & Co. reduced their price objective on shares of Dover from $230.00 to $189.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Citigroup dropped their price objective on Dover from $244.00 to $201.00 and set a "buy" rating for the company in a research report on Monday, April 14th. StockNews.com downgraded Dover from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Barclays raised their price target on shares of Dover from $180.00 to $185.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $176.00 target price on shares of Dover in a research note on Friday, April 25th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Dover presently has a consensus rating of "Moderate Buy" and a consensus target price of $206.33.

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.