Brown Brothers Harriman & Co. Increases Stock Position in Dover Co. (NYSE:DOV)

Brown Brothers Harriman & Co. boosted its stake in shares of Dover Co. (NYSE:DOV) by 99.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,242 shares of the industrial products company’s stock after purchasing an additional 618 shares during the period. Brown Brothers Harriman & Co.’s holdings in Dover were worth $233,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Dover by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company’s stock worth $3,045,772,000 after buying an additional 57,453 shares during the last quarter. State Street Corp increased its stake in shares of Dover by 0.9% in the 3rd quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock worth $1,191,531,000 after purchasing an additional 56,149 shares in the last quarter. Geode Capital Management LLC grew its holdings in Dover by 0.8% during the third quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock valued at $616,945,000 after purchasing an additional 25,993 shares during the period. Norges Bank purchased a new stake in Dover in the fourth quarter worth about $316,228,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Dover by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 828,103 shares of the industrial products company’s stock worth $155,352,000 after buying an additional 16,763 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on DOV. Royal Bank of Canada raised their target price on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Barclays decreased their price objective on shares of Dover from $213.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. UBS Group dropped their target price on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Citigroup cut their price objective on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $218.18.

Dover Stock Performance

Shares of NYSE:DOV opened at $175.82 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. Dover Co. has a 12 month low of $168.20 and a 12 month high of $222.31. The company has a market capitalization of $24.10 billion, a price-to-earnings ratio of 9.04, a PEG ratio of 2.06 and a beta of 1.24. The firm’s 50-day moving average is $193.24 and its 200 day moving average is $193.64.

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

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s dividend 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.