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

Huntington National Bank lowered its position in shares of Dover Co. (NYSE:DOV) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,942 shares of the industrial products company’s stock after selling 377 shares during the period. Huntington National Bank’s holdings in Dover were worth $4,304,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Spire Wealth Management increased its position in Dover by 2.1% during the fourth quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock worth $464,000 after buying an additional 52 shares during the period. ORG Partners LLC increased its holdings in shares of Dover by 5.4% in the 4th quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock valued at $214,000 after acquiring an additional 58 shares during the period. Trust Point Inc. raised its position in Dover by 3.1% in the 4th quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 59 shares during the last quarter. JGP Wealth Management LLC boosted its stake in Dover by 0.8% during the 4th quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company’s stock worth $1,515,000 after purchasing an additional 62 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its position in Dover by 3.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,401 shares of the industrial products company’s stock worth $450,000 after purchasing an additional 70 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Price Performance

Shares of NYSE DOV opened at $179.23 on Thursday. The company’s fifty day moving average is $192.41 and its two-hundred day moving average is $193.48. 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 firm has a market capitalization of $24.57 billion, a P/E ratio of 9.21, a PEG ratio of 2.06 and a beta of 1.24. Dover Co. has a one year low of $168.20 and a one year high of $222.31.

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

Dover Announces Dividend

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

Wall Street Analyst Weigh In

DOV has been the subject of several recent research reports. Barclays decreased their target price on shares of Dover from $213.00 to $205.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Oppenheimer reiterated an “outperform” rating and issued a $225.00 target price (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Wells Fargo & Company upped their price target on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Finally, UBS Group lowered their price objective on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Five investment 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.com, the company presently has an average rating of “Moderate Buy” and an average target price of $218.18.

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.