Dover Co. (NYSE:DOV) Shares Sold by Wealthspire Advisors LLC

Wealthspire Advisors LLC cut its position in Dover Co. (NYSE:DOV) by 1.0% during the fourth quarter, Holdings Channel reports. The firm owned 8,579 shares of the industrial products company’s stock after selling 86 shares during the period. Wealthspire Advisors LLC’s holdings in Dover were worth $1,609,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the company. FMR LLC grew its position in Dover by 5.1% during the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after purchasing an additional 149,378 shares during the period. National Bank of Canada FI boosted its stake in shares of Dover by 313.7% in the third quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company’s stock worth $36,647,000 after buying an additional 144,930 shares during the last quarter. Barclays PLC grew its holdings in Dover by 26.6% during the third quarter. Barclays PLC now owns 360,291 shares of the industrial products company’s stock worth $69,082,000 after acquiring an additional 75,670 shares during the period. International Assets Investment Management LLC purchased a new position in Dover during the third quarter valued at approximately $14,459,000. Finally, Assenagon Asset Management S.A. lifted its holdings in Dover by 195.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock valued at $17,077,000 after acquiring an additional 60,235 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 target price (up from $220.00) on shares of Dover in a report on Friday, January 31st. Barclays lifted their price objective on shares of Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. 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. Finally, JPMorgan Chase & Co. raised their price objective on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $218.91.

Dover Stock Down 0.6 %

Shares of DOV opened at $199.36 on Tuesday. The stock has a 50 day moving average price of $195.51 and a 200 day moving average price of $192.90. Dover Co. has a one year low of $163.07 and a one year high of $222.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The stock has a market capitalization of $27.36 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting analysts’ consensus estimates 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 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s dividend payout ratio is currently 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.