Portfolio Design Labs LLC Sells 318 Shares of Dover Co. (NYSE:DOV)

Portfolio Design Labs LLC lowered its stake in Dover Co. (NYSE:DOV) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,942 shares of the industrial products company’s stock after selling 318 shares during the quarter. Portfolio Design Labs LLC’s holdings in Dover were worth $552,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp lifted its position in Dover by 0.9% in the 3rd quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock valued at $1,191,531,000 after acquiring an additional 56,149 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Dover by 0.8% in 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 purchasing an additional 25,993 shares during the period. FMR LLC lifted its holdings in shares of Dover by 5.1% in the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after purchasing an additional 149,378 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Dover by 1.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company’s stock worth $188,815,000 after buying an additional 17,193 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Dover by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 811,340 shares of the industrial products company’s stock worth $155,566,000 after buying an additional 9,464 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on DOV shares. Citigroup cut their target price on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Oppenheimer reissued an “outperform” rating and issued a $225.00 price objective (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. UBS Group decreased their target price on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. raised their price objective on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Dover presently has an average rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Trading Down 0.5 %

Shares of NYSE:DOV opened at $202.59 on Wednesday. Dover Co. has a 52-week low of $158.29 and a 52-week high of $222.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The company has a market capitalization of $27.79 billion, a P/E ratio of 10.42, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24. The company has a 50-day simple moving average of $195.26 and a 200 day simple moving average of $191.36.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (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%. Sell-side analysts forecast that Dover Co. will post 9.47 earnings per share for the current year.

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.