Dover Co. (NYSE:DOV) Shares Purchased by Royal Bank of Canada

Royal Bank of Canada lifted its holdings in shares of Dover Co. (NYSE:DOV - Free Report) by 60.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 357,162 shares of the industrial products company's stock after buying an additional 135,049 shares during the quarter. Royal Bank of Canada owned approximately 0.26% of Dover worth $67,004,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Financial Life Planners acquired a new position in Dover in the 4th quarter valued at $28,000. R Squared Ltd acquired a new stake in shares of Dover in the fourth quarter valued at about $34,000. EverSource Wealth Advisors LLC lifted its stake in shares of Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock worth $37,000 after buying an additional 87 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Dover during the fourth quarter worth about $46,000. Finally, Mainstream Capital Management LLC acquired a new position in Dover during the fourth quarter worth about $61,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Down 1.1%

Shares of NYSE:DOV traded down $2.06 during trading hours on Friday, reaching $177.79. The stock had a trading volume of 1,170,165 shares, compared to its average volume of 974,058. Dover Co. has a 1 year low of $143.04 and a 1 year high of $222.31. The firm's 50 day moving average is $171.88 and its 200-day moving average is $187.74. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The stock has a market capitalization of $24.38 billion, a price-to-earnings ratio of 9.14, a P/E/G ratio of 2.06 and a beta of 1.28.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, beating analysts' consensus estimates of $1.99 by $0.06. Dover had a net margin of 32.95% and a return on equity of 21.03%. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the firm posted $1.95 EPS. The company's quarterly revenue 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 fiscal year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders 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 1.16%. The ex-dividend date is Friday, May 30th. Dover's payout ratio is 12.41%.

Analysts Set New Price Targets

A number of brokerages have commented on DOV. Morgan Stanley initiated coverage on shares of Dover in a research note on Monday, April 14th. They set an "equal weight" rating and a $185.00 target price on the stock. Wall Street Zen downgraded shares of Dover from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Barclays upped their target price on shares of Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. UBS Group cut their target price on shares of Dover from $217.00 to $211.00 and set a "neutral" rating on the stock in a research note on Friday, January 31st. Finally, Mizuho set a $215.00 target price on shares of Dover in a research note on Friday, May 16th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $207.75.

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.