Federated Hermes Inc. Has $9.84 Million Position in Dover Co. (NYSE:DOV)

Federated Hermes Inc. increased its holdings in shares of Dover Co. (NYSE:DOV) by 28.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 52,442 shares of the industrial products company’s stock after purchasing an additional 11,647 shares during the period. Federated Hermes Inc.’s holdings in Dover were worth $9,838,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Financial Life Planners acquired a new position in shares of Dover during the fourth quarter worth approximately $28,000. R Squared Ltd bought a new position in Dover during the fourth quarter worth $34,000. EverSource Wealth Advisors LLC raised its stake in Dover by 79.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 87 shares during the last quarter. Kieckhefer Group LLC bought a new stake in Dover in the 4th quarter valued at $38,000. Finally, Golden State Wealth Management LLC acquired a new stake in Dover in the 4th quarter worth $46,000. Institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. UBS Group reduced their target price on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Barclays decreased their price objective on Dover from $205.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday. The Goldman Sachs Group upped their target price on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Oppenheimer reiterated an “outperform” rating and set a $225.00 price target (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. Finally, 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 report on Tuesday. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.18.

Dover Stock Performance

NYSE DOV opened at $159.76 on Friday. Dover Co. has a 1-year low of $143.04 and a 1-year high of $222.31. The company has a 50 day moving average of $185.63 and a 200-day moving average of $191.69. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The firm has a market cap of $21.90 billion, a price-to-earnings ratio of 8.21, a PEG ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. On average, equities analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.29%. The ex-dividend date was Friday, February 28th. Dover’s payout ratio is presently 10.59%.

Dover Company 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.