Griffin Asset Management Inc. Grows Stake in Dover Co. (NYSE:DOV)

Griffin Asset Management Inc. increased its position in Dover Co. (NYSE:DOV) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,205 shares of the industrial products company’s stock after acquiring an additional 75 shares during the period. Griffin Asset Management Inc.’s holdings in Dover were worth $9,231,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DOV. State Street Corp grew its holdings in shares of Dover by 0.9% in the third quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock valued at $1,191,531,000 after purchasing an additional 56,149 shares in the last quarter. Geode Capital Management LLC grew its stake in Dover by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock worth $616,945,000 after purchasing an additional 25,993 shares in the last quarter. FMR LLC increased its stake in shares of Dover by 5.1% during the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after buying an additional 149,378 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Dover by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company’s stock valued at $188,815,000 after purchasing an additional 17,193 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Dover by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 811,340 shares of the industrial products company’s stock valued at $155,566,000 after acquiring an additional 9,464 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Citigroup decreased their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Barclays raised their target price on shares of Dover from $190.00 to $205.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. The Goldman Sachs Group upped their price objective on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. UBS Group started coverage on Dover in a research report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 price target on the stock. Finally, Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a research note on Monday, October 28th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $212.55.

Dover Stock Down 1.5 %

Shares of Dover stock opened at $195.79 on Tuesday. The company has a fifty day moving average price of $195.57 and a 200 day moving average price of $189.96. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. Dover Co. has a twelve month low of $148.45 and a twelve month high of $208.26. The stock has a market cap of $26.86 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 2.04 and a beta of 1.23.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.05%. Dover’s dividend payout ratio is currently 18.43%.

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.