Fisher Asset Management LLC Sells 13,277 Shares of Dover Co. (NYSE:DOV)

Fisher Asset Management LLC lowered its holdings in shares of Dover Co. (NYSE:DOV) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,610,209 shares of the industrial products company’s stock after selling 13,277 shares during the period. Fisher Asset Management LLC’s holdings in Dover were worth $302,075,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Spire Wealth Management grew its position in shares of Dover by 2.1% during the 4th quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock worth $464,000 after buying an additional 52 shares during the period. Independent Advisor Alliance boosted its stake in Dover by 0.3% during the third quarter. Independent Advisor Alliance now owns 18,036 shares of the industrial products company’s stock worth $3,458,000 after acquiring an additional 58 shares in the last quarter. ORG Partners LLC grew its holdings in Dover by 5.4% in the fourth quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock worth $214,000 after purchasing an additional 58 shares during the period. Trust Point Inc. grew its holdings in Dover by 3.1% in the fourth quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 59 shares during the period. Finally, Main Street Financial Solutions LLC raised its holdings in shares of Dover by 2.7% during the third quarter. Main Street Financial Solutions LLC now owns 2,255 shares of the industrial products company’s stock valued at $432,000 after purchasing an additional 60 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DOV has been the subject of several research reports. Oppenheimer restated an “outperform” rating and issued a $225.00 target price (up from $220.00) on shares of Dover in a research note on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Wells Fargo & Company upped their target price on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Citigroup reduced their price target on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Finally, StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Stock Performance

Shares of DOV stock opened at $198.75 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The firm has a 50-day moving average of $196.05 and a 200-day moving average of $193.28. Dover Co. has a one year low of $163.71 and a one year high of $222.31. The company has a market cap of $27.27 billion, a P/E ratio of 10.22, a P/E/G ratio of 2.06 and a beta of 1.24.

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

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.515 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.06 annualized dividend and a yield of 1.04%. Dover’s dividend payout ratio is currently 10.59%.

About Dover

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.