Dover Co. (NYSE:DOV) Shares Sold by Huntington National Bank

Huntington National Bank cut its stake in Dover Co. (NYSE:DOV) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,942 shares of the industrial products company’s stock after selling 377 shares during the quarter. Huntington National Bank’s holdings in Dover were worth $4,304,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of DOV. Financial Life Planners acquired a new stake in Dover during the fourth quarter worth about $28,000. R Squared Ltd acquired a new position in Dover in the fourth quarter valued at about $34,000. EverSource Wealth Advisors LLC boosted its stake in Dover by 79.1% during 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 acquired a new stake in shares of Dover during the fourth quarter valued at about $38,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Dover in the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DOV. The Goldman Sachs Group boosted their target price on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. StockNews.com downgraded Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Barclays lowered their target price on Dover from $213.00 to $205.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. UBS Group dropped their target price on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Finally, Oppenheimer reissued an “outperform” rating and set a $225.00 price target (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and an average price target of $218.18.

Dover Trading Up 1.6 %

NYSE DOV opened at $179.23 on Thursday. Dover Co. has a 52 week low of $168.20 and a 52 week high of $222.31. The firm has a 50 day moving average of $192.41 and a two-hundred day moving average of $193.48. The stock has a market capitalization of $24.57 billion, a PE ratio of 9.21, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. 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 (NYSE:DOV) last posted its earnings results 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 return on equity of 21.03% and a net margin of 32.95%. As a group, research analysts expect that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.15%. The ex-dividend date was Friday, February 28th. Dover’s payout ratio is 10.59%.

Dover 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.