Parsons Capital Management Inc. RI Has $357,000 Holdings in Dover Co. (NYSE:DOV)

Parsons Capital Management Inc. RI raised its stake in shares of Dover Co. (NYSE:DOV) by 16.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,905 shares of the industrial products company’s stock after purchasing an additional 276 shares during the period. Parsons Capital Management Inc. RI’s holdings in Dover were worth $357,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC purchased a new position in shares of Dover during the third quarter valued at approximately $33,000. Kieckhefer Group LLC purchased a new position in Dover during the 4th quarter worth $38,000. Avior Wealth Management LLC grew its stake in shares of Dover by 183.5% in the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 167 shares in the last quarter. Coastline Trust Co purchased a new stake in shares of Dover in the third quarter valued at about $50,000. Finally, Cromwell Holdings LLC lifted its position in shares of Dover by 50.5% during the third quarter. Cromwell Holdings LLC now owns 313 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 105 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Dover from $212.00 to $208.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Citigroup decreased their price target on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research report on Monday, January 13th. StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Mizuho upped their price objective on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Barclays lifted their target price on Dover from $190.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $212.55.

Dover Price Performance

NYSE DOV opened at $197.89 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The company has a market cap of $27.15 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 2.04 and a beta of 1.23. Dover Co. has a 52 week low of $148.45 and a 52 week high of $208.26. The firm’s 50-day simple moving average is $195.56 and its two-hundred day simple moving average is $190.06.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Friday, November 29th. Dover’s payout ratio is currently 18.43%.

Dover 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.