National Pension Service Sells 8,000 Shares of Dover Co. (NYSE:DOV)

National Pension Service lowered its holdings in Dover Co. (NYSE:DOV) by 3.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 208,010 shares of the industrial products company’s stock after selling 8,000 shares during the quarter. National Pension Service’s holdings in Dover were worth $39,023,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Versor Investments LP bought a new stake in shares of Dover in the third quarter valued at approximately $1,920,000. Wolverine Asset Management LLC raised its position in shares of Dover by 78.6% in the fourth quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company’s stock valued at $2,345,000 after purchasing an additional 5,500 shares during the period. Assenagon Asset Management S.A. raised its position in shares of 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 purchasing an additional 60,235 shares during the period. Principal Financial Group Inc. raised its position in shares of Dover by 3.1% in the third quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock valued at $34,100,000 after purchasing an additional 5,372 shares during the period. Finally, Empowered Funds LLC raised its position in shares of Dover by 54.3% in the third quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock valued at $2,523,000 after purchasing an additional 4,629 shares during the period. Institutional investors own 84.46% of the company’s stock.

Dover Price Performance

Shares of NYSE:DOV opened at $198.75 on Friday. The company’s fifty day moving average price is $196.05 and its 200-day moving average price is $193.28. The firm has a market capitalization of $27.27 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 2.06 and a beta of 1.24. Dover Co. has a one year low of $163.71 and a one year high of $222.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52.

Dover (NYSE:DOV) last issued its quarterly earnings results 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%. On average, equities research analysts anticipate that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors 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 1.04%. The ex-dividend date is Friday, February 28th. Dover’s dividend payout ratio is currently 10.59%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DOV. The Goldman Sachs Group boosted their price target on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Thursday. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 target price (up previously from $220.00) on shares of Dover in a report on Friday, January 31st. Barclays upped their target price on shares of Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Finally, UBS Group decreased their target price on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.