Dover Co. (NYSE:DOV) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lowered its position in shares of Dover Co. (NYSE:DOV) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,004 shares of the industrial products company’s stock after selling 304 shares during the quarter. Dover makes up about 0.5% of Cornercap Investment Counsel Inc.’s holdings, making the stock its 25th largest holding. Cornercap Investment Counsel Inc.’s holdings in Dover were worth $1,689,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Dover by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company’s stock valued at $3,045,772,000 after purchasing an additional 57,453 shares in the last quarter. State Street Corp lifted its stake in shares of Dover by 0.9% in the third quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock worth $1,191,531,000 after buying an additional 56,149 shares in the last quarter. Geode Capital Management LLC grew its stake in Dover by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock valued at $616,945,000 after acquiring an additional 25,993 shares in the last quarter. FMR LLC raised its holdings in Dover by 5.1% in the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after acquiring an additional 149,378 shares during the last quarter. Finally, Norges Bank purchased a new position in Dover in the 4th quarter worth approximately $316,228,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DOV. Citigroup dropped their price target on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Oppenheimer reaffirmed 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. JPMorgan Chase & Co. boosted their price target on shares of Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Royal Bank of Canada increased their price target on shares of Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $218.18.

Dover Stock Down 2.5 %

NYSE:DOV opened at $174.63 on Friday. Dover Co. has a 52 week low of $168.20 and a 52 week high of $222.31. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock’s fifty day moving average is $193.63 and its two-hundred day moving average is $193.56. The stock has a market capitalization of $23.94 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last announced 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 return on equity of 21.03% and a net margin of 32.95%. Research analysts anticipate that Dover Co. will post 9.45 EPS for the current year.

Dover Announces Dividend

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 1.18%. The ex-dividend date was Friday, February 28th. Dover’s payout ratio is currently 10.59%.

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.