Allianz SE Invests $1.73 Million in Dover Co. (NYSE:DOV)

Allianz SE bought a new stake in Dover Co. (NYSE:DOV) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 9,265 shares of the industrial products company’s stock, valued at approximately $1,726,000.

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

Dover Price Performance

Shares of DOV stock opened at $174.63 on Friday. Dover Co. has a 1 year low of $168.20 and a 1 year high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average is $193.63 and its 200-day moving average is $193.64. The firm has a market capitalization of $23.94 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Sell-side analysts forecast that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.515 per share. The ex-dividend date was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a yield of 1.18%. Dover’s payout ratio is presently 10.59%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DOV. Oppenheimer restated an “outperform” rating and set a $225.00 price target (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. Wells Fargo & Company boosted their price target on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Royal Bank of Canada lifted their price objective on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Barclays lowered their target price on shares of Dover from $213.00 to $205.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus 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.