Zurich Insurance Group Ltd FI Invests $1.78 Million in Dover Co. (NYSE:DOV)

Zurich Insurance Group Ltd FI purchased a new stake in Dover Co. (NYSE:DOV - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,500 shares of the industrial products company's stock, valued at approximately $1,782,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake 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 purchasing an additional 57,453 shares during the period. Geode Capital Management LLC raised its stake 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 increased its position in shares of 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 acquiring an additional 32,565 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Dover by 31.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company's stock valued at $409,530,000 after acquiring an additional 524,092 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Dover by 16.6% in the fourth 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. Institutional investors and hedge funds own 84.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DOV shares. Robert W. Baird lowered their target price on Dover from $238.00 to $219.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Wall Street Zen downgraded Dover from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Oppenheimer reaffirmed an "outperform" rating and issued a $225.00 target price (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Barclays lifted their target price on Dover from $180.00 to $185.00 and gave the company an "equal weight" rating in a research report on Thursday, April 24th. Finally, Morgan Stanley started coverage on Dover in a research report on Monday, April 14th. They issued an "equal weight" rating and a $185.00 target price on the stock. Six 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $207.75.

Dover Stock Performance

Dover stock traded down $2.06 during midday trading on Friday, reaching $177.79. 1,170,165 shares of the company's stock were exchanged, compared to its average volume of 974,058. Dover Co. has a 52 week low of $143.04 and a 52 week high of $222.31. 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 firm has a market cap 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. The stock's 50-day simple moving average is $171.88 and its 200 day simple moving average is $187.74.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter last year, the company posted $1.95 earnings per share. Dover's quarterly revenue was down .9% on a year-over-year basis. On average, analysts expect that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, May 30th. Dover's dividend payout ratio is presently 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.