Allstate Corp Purchases New Shares in Dover Co. (NYSE:DOV)

Allstate Corp acquired a new position in Dover Co. (NYSE:DOV) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,214 shares of the industrial products company’s stock, valued at approximately $791,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DOV. Spire Wealth Management grew its holdings in shares of Dover by 2.1% in the fourth quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock valued at $464,000 after acquiring an additional 52 shares in the last quarter. ORG Partners LLC boosted its position in Dover by 5.4% in the fourth quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock worth $214,000 after purchasing an additional 58 shares during the last quarter. Trust Point Inc. grew its stake in Dover by 3.1% in the 4th quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 59 shares during the period. JGP Wealth Management LLC increased its position in shares of Dover by 0.8% during the 4th quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company’s stock valued at $1,515,000 after purchasing an additional 62 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Dover by 3.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,401 shares of the industrial products company’s stock worth $450,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Royal Bank of Canada increased their price target on shares of Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. increased their target price on shares of Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Citigroup lowered their price target on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Oppenheimer reissued an “outperform” rating and set a $225.00 price objective (up from $220.00) on shares of Dover in a report on Friday, January 31st. Finally, Wells Fargo & Company boosted their target price on Dover from $200.00 to $215.00 and gave the company 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $218.18.

Dover Stock Up 0.7 %

Shares of NYSE DOV opened at $175.82 on Tuesday. The business has a 50-day simple moving average of $193.24 and a two-hundred day simple moving average of $193.64. Dover Co. has a 52 week low of $168.20 and a 52 week high of $222.31. The company has a market cap of $24.10 billion, a P/E ratio of 9.04, a P/E/G ratio of 2.06 and a beta of 1.24. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

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

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.515 dividend. The ex-dividend date was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.17%. Dover’s dividend payout ratio (DPR) 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.