Korea Investment CORP Acquires 37,690 Shares of Dover Co. (NYSE:DOV)

Korea Investment CORP raised its holdings in shares of Dover Co. (NYSE:DOV) by 66.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 94,432 shares of the industrial products company’s stock after acquiring an additional 37,690 shares during the period. Korea Investment CORP’s holdings in Dover were worth $17,715,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DOV. Dynamic Technology Lab Private Ltd bought a new position in Dover during the 3rd quarter worth approximately $293,000. Townsquare Capital LLC boosted its stake in shares of Dover by 16.8% during the third quarter. Townsquare Capital LLC now owns 1,986 shares of the industrial products company’s stock valued at $381,000 after purchasing an additional 286 shares during the period. Glenmede Trust Co. NA grew its holdings in shares of Dover by 1.0% in the third quarter. Glenmede Trust Co. NA now owns 15,166 shares of the industrial products company’s stock worth $2,908,000 after purchasing an additional 147 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Dover by 1.8% in the third 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 worth $188,815,000 after buying an additional 17,193 shares during the period. Finally, Public Sector Pension Investment Board raised its holdings in Dover by 13.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 5,959 shares of the industrial products company’s stock valued at $1,143,000 after buying an additional 700 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Dover Price Performance

Shares of DOV stock opened at $174.63 on Friday. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $23.94 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 2.06 and a beta of 1.24. The business’s fifty day moving average is $193.63 and its 200 day moving average is $193.64. Dover Co. has a twelve month low of $168.20 and a twelve month high of $222.31.

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

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders 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 1.18%. Dover’s dividend payout ratio is currently 10.59%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DOV shares. Oppenheimer reissued an “outperform” rating and issued a $225.00 price target (up previously from $220.00) on shares of Dover in a report on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Barclays dropped their price objective on Dover from $213.00 to $205.00 and set an “equal weight” rating for the company in a report on Wednesday. The Goldman Sachs Group boosted their target price on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company raised their price target on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $218.18.

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.