Patten Group Inc. Purchases 507 Shares of Dover Co. (NYSE:DOV)

Patten Group Inc. increased its holdings in Dover Co. (NYSE:DOV) by 10.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,543 shares of the industrial products company’s stock after purchasing an additional 507 shares during the period. Patten Group Inc.’s holdings in Dover were worth $1,040,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DOV. Farther Finance Advisors LLC raised its position in Dover by 39.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 686 shares of the industrial products company’s stock worth $132,000 after purchasing an additional 195 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Dover by 11.0% in the 3rd quarter. Van ECK Associates Corp now owns 23,375 shares of the industrial products company’s stock worth $4,481,000 after buying an additional 2,317 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of Dover by 89.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 16,346 shares of the industrial products company’s stock worth $3,134,000 after buying an additional 7,704 shares in the last quarter. National Pension Service increased its stake in shares of Dover by 3.0% during the third quarter. National Pension Service now owns 216,010 shares of the industrial products company’s stock valued at $41,418,000 after buying an additional 6,241 shares during the period. Finally, QRG Capital Management Inc. raised its holdings in shares of Dover by 75.0% in the third quarter. QRG Capital Management Inc. now owns 54,725 shares of the industrial products company’s stock valued at $10,493,000 after acquiring an additional 23,451 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted 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. Citigroup reduced their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a report on Monday, January 13th. Oppenheimer restated an “outperform” rating and issued a $225.00 price target (up from $220.00) on shares of Dover in a report on Friday, January 31st. Wells Fargo & Company boosted their price objective on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group raised their target price on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Trading Down 2.9 %

NYSE DOV opened at $192.99 on Tuesday. The company has a fifty day moving average of $196.14 and a 200 day moving average of $193.61. The company has a market capitalization of $26.48 billion, a PE ratio of 9.92, a P/E/G ratio of 2.06 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. Dover Co. has a 1 year low of $166.20 and a 1 year high of $222.31.

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

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s dividend payout ratio is currently 10.59%.

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.