Dover Co. (NYSE:DOV) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. lessened its stake in shares of Dover Co. (NYSE:DOV) by 29.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,974 shares of the industrial products company’s stock after selling 821 shares during the period. Financial Counselors Inc.’s holdings in Dover were worth $370,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DOV. Financial Life Planners purchased a new stake in shares of Dover during the fourth quarter valued at $28,000. R Squared Ltd purchased a new stake in Dover during the fourth quarter valued at about $34,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock worth $37,000 after buying an additional 87 shares during the period. Kieckhefer Group LLC purchased a new position in shares of Dover in the fourth quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Dover during the fourth quarter valued at approximately $46,000. 84.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DOV has been the topic of several research analyst reports. Barclays lowered their price objective on shares of Dover from $213.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Citigroup dropped their price target on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Oppenheimer restated an “outperform” rating and set a $225.00 price objective (up from $220.00) on shares of Dover in a research report on Friday, January 31st. 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. Finally, StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and an average price target of $218.18.

Dover Trading Down 2.5 %

Shares of NYSE DOV opened at $174.63 on Friday. The business has a 50 day simple moving average of $193.63 and a 200 day simple moving average of $193.56. Dover Co. has a 52 week low of $168.20 and a 52 week high of $222.31. The stock has a market cap of $23.94 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 2.06 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04.

Dover (NYSE:DOV) last posted its earnings results 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%. On average, research analysts predict that Dover Co. will post 9.45 earnings per share for the current fiscal 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. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 annualized dividend and a yield of 1.18%. Dover’s dividend payout ratio (DPR) 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.