Invesco Ltd. Buys 114,719 Shares of Dover Co. (NYSE:DOV)

Invesco Ltd. raised its stake in Dover Co. (NYSE:DOV) by 10.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,179,207 shares of the industrial products company’s stock after acquiring an additional 114,719 shares during the quarter. Invesco Ltd. owned about 0.86% of Dover worth $221,219,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in DOV. Norges Bank bought a new position in shares of Dover during the fourth quarter worth approximately $316,228,000. Amundi increased its position in Dover by 42.3% during the 4th quarter. Amundi now owns 648,525 shares of the industrial products company’s stock worth $121,417,000 after buying an additional 192,908 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Dover during the fourth quarter worth $30,741,000. Proficio Capital Partners LLC bought a new stake in shares of Dover in the fourth quarter valued at about $28,718,000. Finally, Barclays PLC grew its stake in shares of Dover by 26.6% in the third quarter. Barclays PLC now owns 360,291 shares of the industrial products company’s stock valued at $69,082,000 after acquiring an additional 75,670 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

NYSE:DOV opened at $162.23 on Friday. Dover Co. has a twelve month low of $143.04 and a twelve month high of $222.31. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock’s 50-day simple moving average is $184.81 and its 200 day simple moving average is $191.50. The firm has a market capitalization of $22.24 billion, a PE ratio of 8.34, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24.

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

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s dividend payout ratio (DPR) is 10.59%.

Analysts Set New Price Targets

A number of analysts have issued reports on DOV shares. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Barclays cut their price target on Dover from $205.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday. JPMorgan Chase & Co. lowered their price objective on Dover from $230.00 to $189.00 and set an “overweight” rating on the stock in a research note on Tuesday. Royal Bank of Canada upped their target price on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. Finally, Oppenheimer restated an “outperform” rating and issued a $225.00 price target (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $212.18.

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.