Principal Financial Group Inc. Lowers Holdings in Dover Co. (NYSE:DOV)

Principal Financial Group Inc. decreased its stake in shares of Dover Co. (NYSE:DOV) by 1.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 176,086 shares of the industrial products company’s stock after selling 1,758 shares during the quarter. Principal Financial Group Inc.’s holdings in Dover were worth $33,034,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. State Street Corp raised its stake in Dover by 0.9% during the third quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock valued at $1,191,531,000 after buying an additional 56,149 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Dover by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock worth $616,945,000 after purchasing an additional 25,993 shares during the last quarter. FMR LLC raised its stake 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 worth $591,676,000 after purchasing an additional 149,378 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Dover by 1.8% in 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 purchasing an additional 17,193 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Dover by 1.2% in 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 purchasing an additional 9,464 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

NYSE:DOV opened at $200.43 on Friday. The stock has a 50-day simple moving average of $195.51 and a two-hundred day simple moving average of $192.47. Dover Co. has a 52-week low of $161.19 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 firm has a market capitalization of $27.51 billion, a PE ratio of 10.30, a P/E/G ratio of 2.04 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 (EPS) for the quarter, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Analysts forecast 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 Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s dividend payout ratio is presently 10.59%.

Wall Street Analysts Forecast Growth

DOV has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Citigroup decreased their price target on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group boosted their price target on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. 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 research note on Friday, January 31st. Finally, StockNews.com raised Dover from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Dover 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.