Dover Co. (NYSE:DOV) Stock Position Lessened by Prudent Man Advisors LLC

Prudent Man Advisors LLC reduced its stake in shares of Dover Co. (NYSE:DOV) by 11.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,473 shares of the industrial products company’s stock after selling 446 shares during the quarter. Prudent Man Advisors LLC’s holdings in Dover were worth $652,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Versor Investments LP acquired a new stake in shares of Dover in the 3rd quarter worth approximately $1,920,000. Wolverine Asset Management LLC raised its holdings 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 purchasing an additional 5,500 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Dover by 195.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock worth $17,077,000 after purchasing an additional 60,235 shares during the period. Principal Financial Group Inc. boosted its stake in Dover by 3.1% during 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, Empowered Funds LLC raised its stake in shares of Dover by 54.3% in the 3rd quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock worth $2,523,000 after buying an additional 4,629 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Price Performance

Shares of DOV opened at $198.75 on Friday. The business’s 50-day moving average is $196.05 and its 200-day moving average is $193.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The company has a market capitalization of $27.27 billion, a price-to-earnings ratio of 10.22, a P/E/G ratio of 2.06 and a beta of 1.24. Dover Co. has a fifty-two week low of $163.71 and a fifty-two week high of $222.31.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. Equities research analysts expect that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.515 dividend. The ex-dividend date is Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a yield of 1.04%. Dover’s dividend payout ratio (DPR) is currently 10.59%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DOV. The Goldman Sachs Group raised their target price on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Wells Fargo & Company lifted their price objective on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their target price on shares of Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Barclays increased their price objective on Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $218.91.

Dover 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.