Rhumbline Advisers Sells 5,492 Shares of Dover Co. (NYSE:DOV)

Rhumbline Advisers decreased its stake in Dover Co. (NYSE:DOV) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 259,692 shares of the industrial products company’s stock after selling 5,492 shares during the quarter. Rhumbline Advisers owned about 0.19% of Dover worth $48,718,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of DOV. Exchange Traded Concepts LLC increased its position in Dover by 488.6% during the third quarter. Exchange Traded Concepts LLC now owns 1,295 shares of the industrial products company’s stock valued at $248,000 after acquiring an additional 1,075 shares during the last quarter. Aaron Wealth Advisors LLC purchased a new position in shares of Dover during the 3rd quarter worth about $221,000. Blue Trust Inc. grew its holdings in Dover by 57.9% during the 3rd quarter. Blue Trust Inc. now owns 3,228 shares of the industrial products company’s stock valued at $583,000 after purchasing an additional 1,184 shares during the last quarter. First Citizens Bank & Trust Co. raised its position in Dover by 3.8% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 4,624 shares of the industrial products company’s stock worth $887,000 after purchasing an additional 168 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Dover by 67.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 12,162 shares of the industrial products company’s stock worth $2,332,000 after purchasing an additional 4,895 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Trading Down 0.1 %

Shares of NYSE DOV opened at $202.46 on Tuesday. The business has a fifty day moving average price of $195.27 and a 200 day moving average price of $191.88. Dover Co. has a 1-year low of $159.48 and a 1-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. The stock has a market capitalization of $27.78 billion, a P/E ratio of 10.41, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share 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 expect that Dover Co. will post 9.47 EPS for the current fiscal year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.515 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.02%. Dover’s payout ratio is 10.59%.

Wall Street Analyst Weigh In

DOV has been the topic of several recent analyst reports. Wells Fargo & Company increased their price target on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their target price on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price target (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Finally, Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price on the stock in a research report on Monday, October 28th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus 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.