State of Tennessee Treasury Department increased its stake in shares of Dover Corp (NYSE:DOV) by 40.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 80,302 shares of the industrial products company’s stock after acquiring an additional 23,305 shares during the period. State of Tennessee Treasury Department’s holdings in Dover were worth $8,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Cerebellum GP LLC acquired a new position in Dover during the 4th quarter worth $133,000. Tower Research Capital LLC TRC boosted its position in Dover by 891.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock worth $179,000 after acquiring an additional 1,596 shares during the period. Cape Cod Five Cents Savings Bank acquired a new position in Dover during the 3rd quarter worth $201,000. NBT Bank N A NY acquired a new position in Dover during the 3rd quarter worth $202,000. Finally, Somerville Kurt F acquired a new position in Dover during the 4th quarter worth $202,000. Hedge funds and other institutional investors own 87.22% of the company’s stock.
Shares of Dover Corp (DOV) opened at $101.94 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $16,120.36, a price-to-earnings ratio of 19.79, a PEG ratio of 1.37 and a beta of 1.28. Dover Corp has a twelve month low of $75.51 and a twelve month high of $109.06.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 1.84%. Dover’s dividend payout ratio (DPR) is 36.50%.
A number of research analysts have issued reports on the company. SunTrust Banks boosted their price target on Dover to $106.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. Barclays assumed coverage on Dover in a research report on Thursday, February 15th. They set an “overweight” rating and a $120.00 price target for the company. Seaport Global Securities reiterated a “hold” rating and set a $110.00 price target on shares of Dover in a research report on Friday, February 2nd. UBS Group assumed coverage on Dover in a research report on Monday, January 22nd. They set a “neutral” rating for the company. Finally, Zacks Investment Research upgraded Dover from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a research report on Friday, February 2nd. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $107.83.
In other news, insider Stephen Gary Kennon sold 15,702 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $102.01, for a total value of $1,601,761.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.50% of the company’s stock.
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Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.
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