Connor Clark & Lunn Investment Management Ltd. Invests $283,000 in Dover Co. (NYSE:DOV)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Dover Co. (NYSE:DOV) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 1,506 shares of the industrial products company’s stock, valued at approximately $283,000.

Other large investors also recently modified their holdings of the company. Wolverine Asset Management LLC lifted its stake in Dover by 78.6% during the 4th quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company’s stock valued at $2,345,000 after acquiring an additional 5,500 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Dover by 195.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock worth $17,077,000 after purchasing an additional 60,235 shares during the last quarter. Principal Financial Group Inc. grew its position in Dover by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock worth $34,100,000 after purchasing an additional 5,372 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in Dover by 28.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 23,831 shares of the industrial products company’s stock valued at $4,471,000 after buying an additional 5,289 shares during the last quarter. Finally, TrueWealth Advisors LLC bought a new position in shares of Dover during the 4th quarter worth approximately $475,000. Institutional investors own 84.46% of the company’s stock.

Dover Price Performance

NYSE DOV opened at $179.78 on Monday. The company has a market cap of $24.67 billion, a PE ratio of 9.24, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. 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 firm’s 50-day simple moving average is $194.60 and its two-hundred day simple moving average is $193.62. Dover Co. has a 52 week low of $168.20 and a 52 week high of $222.31.

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

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s payout ratio is presently 10.59%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wells Fargo & Company upped their target price on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. UBS Group decreased their target price on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Barclays boosted their price target on shares of Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $218.91.

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.