Bahl & Gaynor Inc. Reduces Stock Holdings in Dover Co. (NYSE:DOV)

Bahl & Gaynor Inc. lessened its holdings in shares of Dover Co. (NYSE:DOV) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,499 shares of the industrial products company’s stock after selling 166 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Dover were worth $11,725,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of DOV. Financial Life Planners acquired a new stake in Dover during the 4th quarter valued at approximately $28,000. Ashton Thomas Securities LLC acquired a new stake in Dover during the 3rd quarter valued at approximately $33,000. R Squared Ltd acquired a new stake in Dover during the 4th quarter valued at approximately $34,000. Kieckhefer Group LLC acquired a new stake in Dover during the 4th quarter valued at approximately $38,000. Finally, Golden State Wealth Management LLC acquired a new stake in Dover during the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Trading Down 4.8 %

Shares of NYSE DOV opened at $184.10 on Wednesday. The company has a market cap of $25.26 billion, a price-to-earnings ratio of 9.47, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. Dover Co. has a 12-month low of $166.20 and a 12-month high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The stock’s 50 day simple moving average is $196.01 and its 200 day simple moving average is $193.64.

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

Dover Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s dividend payout ratio (DPR) is 10.59%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Citigroup lowered their price objective 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 lifted their target price on Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group lifted their target price on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $225.00 target price (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.