Portland Global Advisors LLC Sells 175 Shares of Dover Co. (NYSE:DOV)

Portland Global Advisors LLC lowered its stake in Dover Co. (NYSE:DOV) by 10.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,545 shares of the industrial products company’s stock after selling 175 shares during the quarter. Portland Global Advisors LLC’s holdings in Dover were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Wolverine Asset Management LLC boosted 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 worth $2,345,000 after purchasing an additional 5,500 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Dover by 195.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock worth $17,077,000 after buying an additional 60,235 shares during the period. Principal Financial Group Inc. increased its stake in Dover by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock worth $34,100,000 after buying an additional 5,372 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Dover by 1.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 27,626 shares of the industrial products company’s stock valued at $5,183,000 after acquiring an additional 444 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its position in shares of Dover by 28.5% in the fourth quarter. Oppenheimer & Co. Inc. now owns 23,831 shares of the industrial products company’s stock valued at $4,471,000 after acquiring an additional 5,289 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on DOV. Royal Bank of Canada boosted their price target on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price target (up from $220.00) on shares of Dover in a report on Friday, January 31st. Barclays dropped their price objective on shares of Dover from $213.00 to $205.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, The Goldman Sachs Group lifted their target price on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.18.

Dover Trading Down 2.5 %

DOV stock opened at $174.63 on Friday. Dover Co. has a twelve month low of $168.20 and a twelve month high of $222.31. 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. 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 firm’s fifty day simple moving average is $193.63 and its two-hundred day simple moving average is $193.64.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share 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%. As a group, analysts anticipate that Dover Co. will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.515 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a yield of 1.18%. Dover’s payout ratio is 10.59%.

About Dover

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.