Dover Co. (NYSE:DOV) Stake Cut by IFP Advisors Inc

IFP Advisors Inc reduced its holdings in Dover Co. (NYSE:DOV) by 67.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,194 shares of the industrial products company’s stock after selling 4,629 shares during the period. IFP Advisors Inc’s holdings in Dover were worth $412,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Versor Investments LP purchased a new stake in Dover in the 3rd quarter worth about $1,920,000. Wolverine Asset Management LLC raised its stake in shares of Dover by 78.6% during the 4th quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company’s stock worth $2,345,000 after purchasing an additional 5,500 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Dover by 195.6% during the 4th 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 in the last quarter. Principal Financial Group Inc. raised its stake in shares of Dover by 3.1% during 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. Finally, Empowered Funds LLC raised its stake in shares of Dover by 54.3% during the 3rd quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock worth $2,523,000 after purchasing an additional 4,629 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DOV. JPMorgan Chase & Co. raised their price target on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. UBS Group cut their price target on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Citigroup cut their price target on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Barclays increased their price objective on Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company increased their price objective on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Dover has an average rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Stock Performance

DOV opened at $198.75 on Friday. The firm has a market capitalization of $27.27 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The stock’s 50 day moving average price is $196.05 and its two-hundred day moving average price is $193.39. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Dover Co. has a 12-month low of $163.71 and a 12-month high of $222.31.

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

Dover Dividend Announcement

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

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.