Cannell & Spears LLC Grows Stock Holdings in Dover Co. (NYSE:DOV)

Cannell & Spears LLC lifted its position in Dover Co. (NYSE:DOV) by 14.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,180 shares of the industrial products company’s stock after buying an additional 1,039 shares during the period. Cannell & Spears LLC’s holdings in Dover were worth $1,535,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Financial Life Planners acquired a new position in shares of Dover during the fourth quarter worth $28,000. R Squared Ltd acquired a new position in Dover during the 4th quarter valued at about $34,000. EverSource Wealth Advisors LLC raised its stake in Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after buying an additional 87 shares during the last quarter. Kieckhefer Group LLC acquired a new stake in Dover in the fourth quarter worth about $38,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Dover during the fourth quarter worth about $46,000. Institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on DOV. JPMorgan Chase & Co. upped their price target on shares of Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Wells Fargo & Company lifted their target price on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. The Goldman Sachs Group upped their target price on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. UBS Group reduced 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. Finally, Royal Bank of Canada lifted their price objective on shares of Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a report 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, the stock currently 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. Dover Co. has a 52-week low of $168.20 and a 52-week high of $222.31. The stock has a market cap of $24.10 billion, a P/E ratio of 9.04, a PEG ratio of 2.06 and a beta of 1.24. The business has a fifty day moving average of $193.24 and a two-hundred day moving average of $193.64. 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 released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, research analysts expect that Dover Co. will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

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