Toronto Dominion Bank Raises Stock Holdings in Dover Co. (NYSE:DOV)

Toronto Dominion Bank lifted its stake in Dover Co. (NYSE:DOV - Free Report) by 7.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,436 shares of the industrial products company's stock after buying an additional 5,378 shares during the period. Toronto Dominion Bank owned approximately 0.05% of Dover worth $13,777,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wolverine Asset Management LLC grew its position in shares of Dover by 78.6% during the fourth quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company's stock worth $2,345,000 after acquiring an additional 5,500 shares during the last quarter. Westpac Banking Corp grew its position in Dover by 1,332.8% during the 4th quarter. Westpac Banking Corp now owns 24,486 shares of the industrial products company's stock worth $4,594,000 after purchasing an additional 22,777 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Dover by 1.6% during 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 last quarter. Bank of Montreal Can grew its holdings in shares of Dover by 3.7% during the fourth quarter. Bank of Montreal Can now owns 154,311 shares of the industrial products company's stock worth $28,949,000 after buying an additional 5,469 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Dover by 4.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 253,376 shares of the industrial products company's stock worth $47,533,000 after buying an additional 11,592 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Price Performance

DOV traded down $1.80 during trading on Monday, reaching $175.95. 673,967 shares of the stock were exchanged, compared to its average volume of 968,577. The business's 50 day moving average price is $171.37 and its two-hundred day moving average price is $186.64. 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 company has a market capitalization of $24.12 billion, a price-to-earnings ratio of 9.05, a P/E/G ratio of 2.06 and a beta of 1.28. Dover Co. has a 1 year low of $143.04 and a 1 year high of $222.31.

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

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, May 30th. Dover's dividend payout ratio (DPR) is presently 12.41%.

Analyst Upgrades and Downgrades

DOV has been the topic of a number of research reports. Mizuho set a $215.00 price target on Dover in a report on Friday, May 16th. Morgan Stanley began coverage on Dover in a research note on Monday, April 14th. They issued an "equal weight" rating and a $185.00 target price on the stock. Wall Street Zen lowered shares of Dover from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Citigroup lowered their price objective on shares of Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $176.00 price objective on shares of Dover in a report on Friday, April 25th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $207.75.

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.