Sumitomo Life Insurance Co. Sells 183 Shares of Dover Co. (NYSE:DOV)

Sumitomo Life Insurance Co. lowered its holdings in Dover Co. (NYSE:DOV) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,041 shares of the industrial products company’s stock after selling 183 shares during the period. Sumitomo Life Insurance Co.’s holdings in Dover were worth $1,133,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Dover in the third quarter valued at about $33,000. R Squared Ltd acquired a new position in shares of Dover during the 4th quarter worth approximately $34,000. Kieckhefer Group LLC bought a new stake in shares of Dover during the 4th quarter worth approximately $38,000. Avior Wealth Management LLC boosted its holdings in shares of Dover by 183.5% in the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock valued at $49,000 after buying an additional 167 shares during the last quarter. Finally, Coastline Trust Co bought a new position in shares of Dover in the third quarter valued at $50,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. The Goldman Sachs Group increased their price target 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. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Wells Fargo & Company dropped their price objective on Dover from $205.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Barclays lifted their target price on Dover from $190.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. dropped their price target on Dover from $212.00 to $208.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Dover has a consensus rating of “Moderate Buy” and an average target price of $212.55.

Dover Price Performance

Shares of Dover stock opened at $197.27 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $27.06 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 2.04 and a beta of 1.23. Dover Co. has a twelve month low of $148.45 and a twelve month high of $208.26. The company has a 50-day simple moving average of $195.54 and a two-hundred day simple moving average of $190.11.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were paid a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, November 29th. Dover’s dividend payout ratio (DPR) is currently 18.43%.

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.