Royal Bank of Canada Grows Position in Dover Co. (NYSE:DOV)

Royal Bank of Canada increased its position in Dover Co. (NYSE:DOV - Free Report) by 60.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 0.26% of Dover worth $67,004,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC raised its holdings 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 valued at $2,345,000 after acquiring an additional 5,500 shares in the last quarter. Westpac Banking Corp raised its holdings in Dover by 1,332.8% in 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 in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of 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. Bank of Montreal Can boosted its stake in shares of Dover by 3.7% during the 4th quarter. Bank of Montreal Can now owns 154,311 shares of the industrial products company's stock valued at $28,949,000 after purchasing an additional 5,469 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position 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 valued at $47,533,000 after buying an additional 11,592 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Citigroup reduced their target price on Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Morgan Stanley assumed coverage on Dover in a research note on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price target on the stock. Wall Street Zen lowered Dover from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $176.00 target price on shares of Dover in a research report on Friday, April 25th. Finally, Wells Fargo & Company lifted their price target on shares of Dover from $200.00 to $215.00 and gave the company an "equal weight" rating in a research report on Friday, January 31st. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $207.75.

Dover Stock Down 1.1%

NYSE DOV traded down $2.06 during mid-day trading on Monday, reaching $177.79. The stock had a trading volume of 1,170,165 shares, compared to its average volume of 974,058. The stock has a market cap of $24.38 billion, a PE ratio of 9.14, a price-to-earnings-growth 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. 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 fifty day moving average price of $171.88 and a 200 day moving average price of $187.65.

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

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Friday, May 30th. Dover's dividend payout ratio is currently 12.41%.

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.