Dover Co. (NYSE:DOV) Shares Sold by Fiduciary Trust Co

Fiduciary Trust Co cut its holdings in Dover Co. (NYSE:DOV) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,239 shares of the industrial products company’s stock after selling 374 shares during the quarter. Fiduciary Trust Co’s holdings in Dover were worth $6,423,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Wolverine Asset Management LLC increased its position in Dover by 78.6% during the fourth quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company’s stock worth $2,345,000 after buying an additional 5,500 shares in the last quarter. Westpac Banking Corp increased its position in Dover by 1,332.8% during the 4th quarter. Westpac Banking Corp now owns 24,486 shares of the industrial products company’s stock worth $4,594,000 after purchasing an additional 22,777 shares in the last quarter. Assenagon Asset Management S.A. raised its stake 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 valued at $17,077,000 after purchasing an additional 60,235 shares during the last quarter. Principal Financial Group Inc. lifted its holdings 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 valued at $34,100,000 after purchasing an additional 5,372 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Dover by 1.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 27,626 shares of the industrial products company’s stock worth $5,183,000 after purchasing an additional 444 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DOV has been the topic of several recent analyst reports. UBS Group reduced their price objective on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada restated a “sector perform” rating and set a $176.00 price objective on shares of Dover in a report on Friday, April 25th. StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. JPMorgan Chase & Co. decreased their price target on Dover from $230.00 to $189.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Robert W. Baird dropped their price objective on shares of Dover from $238.00 to $219.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $206.33.

Dover Trading Up 0.8 %

NYSE DOV opened at $176.08 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. Dover Co. has a one year low of $143.04 and a one year high of $222.31. The company’s 50 day moving average price is $171.73 and its 200 day moving average price is $188.32. The firm has a market capitalization of $24.14 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 2.06 and a beta of 1.28.

Dover (NYSE:DOV) last posted its earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.06. Dover had a net margin of 32.95% and a return on equity of 21.03%. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the business posted $1.95 EPS. The business’s quarterly revenue was down .9% on a year-over-year basis. On average, sell-side analysts predict that Dover Co. will post 9.45 EPS for the current year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.17%. The ex-dividend date is Friday, May 30th. Dover’s dividend payout ratio (DPR) is presently 12.41%.

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.