Nomura Asset Management Co. Ltd. Boosts Holdings in Dover Co. (NYSE:DOV)

Nomura Asset Management Co. Ltd. raised its holdings in shares of Dover Co. (NYSE:DOV) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 253,376 shares of the industrial products company’s stock after buying an additional 11,592 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.18% of Dover worth $47,533,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DOV. Financial Life Planners purchased a new stake in shares of Dover in the 4th quarter worth $28,000. R Squared Ltd purchased a new stake in Dover in the fourth quarter worth about $34,000. EverSource Wealth Advisors LLC raised its stake in shares of Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock worth $37,000 after buying an additional 87 shares during the period. Kieckhefer Group LLC purchased a new position in shares of Dover during the 4th quarter valued at about $38,000. Finally, Golden State Wealth Management LLC purchased a new stake in Dover in the 4th quarter worth approximately $46,000. 84.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DOV. Barclays lowered their price target on shares of Dover from $213.00 to $205.00 and set an “equal weight” rating on the stock in a report on Wednesday. UBS Group cut their price target on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Oppenheimer restated an “outperform” rating and issued a $225.00 price objective (up from $220.00) on shares of Dover in a research report on Friday, January 31st. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Wells Fargo & Company upped their price target on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and a consensus target price of $218.18.

Dover Trading Down 2.5 %

DOV stock opened at $174.63 on Friday. The firm has a market cap of $23.94 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The firm has a fifty day moving average price of $193.63 and a 200 day moving average price of $193.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. Dover Co. has a fifty-two week low of $168.20 and a fifty-two week high of $222.31.

Dover (NYSE:DOV) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share 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%. Sell-side analysts anticipate 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. Stockholders of record on Friday, February 28th were paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s payout ratio is 10.59%.

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.