Choate Investment Advisors Purchases 1,497 Shares of Dover Co. (NYSE:DOV)

Choate Investment Advisors lifted its position in shares of Dover Co. (NYSE:DOV) by 18.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 9,831 shares of the industrial products company’s stock after acquiring an additional 1,497 shares during the quarter. Choate Investment Advisors’ holdings in Dover were worth $1,844,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. KBC Group NV boosted its stake in Dover by 3.5% in the 3rd quarter. KBC Group NV now owns 30,224 shares of the industrial products company’s stock worth $5,796,000 after purchasing an additional 1,022 shares during the period. Curi RMB Capital LLC boosted its stake in Dover by 5.1% in the 3rd quarter. Curi RMB Capital LLC now owns 2,376 shares of the industrial products company’s stock worth $456,000 after purchasing an additional 116 shares during the period. CIBC Asset Management Inc boosted its stake in Dover by 7.7% in the 3rd quarter. CIBC Asset Management Inc now owns 20,587 shares of the industrial products company’s stock worth $3,947,000 after purchasing an additional 1,474 shares during the period. Empirical Finance LLC boosted its stake in Dover by 2.1% in the 3rd quarter. Empirical Finance LLC now owns 4,864 shares of the industrial products company’s stock worth $933,000 after purchasing an additional 100 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of Dover by 54.3% during the 3rd quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock valued at $2,523,000 after acquiring an additional 4,629 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

NYSE:DOV opened at $181.15 on Monday. The business has a 50 day moving average of $195.12 and a 200 day moving average of $193.65. The company has a market capitalization of $24.86 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 2.06 and a beta of 1.24. Dover Co. has a 1-year low of $168.20 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.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share 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, sell-side analysts predict that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

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. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 annualized dividend and a yield of 1.14%. Dover’s payout ratio is currently 10.59%.

Analyst Ratings Changes

A number of analysts have recently issued reports on DOV shares. The Goldman Sachs Group lifted their price target on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Barclays lifted their price target on Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Wells Fargo & Company lifted their price target on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Finally, Oppenheimer reiterated an “outperform” rating and set a $225.00 price target (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.91.

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.