Franklin Resources Inc. Sells 1,003,501 Shares of Dover Co. (NYSE:DOV)

Franklin Resources Inc. lowered its stake in shares of Dover Co. (NYSE:DOV) by 27.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,591,871 shares of the industrial products company’s stock after selling 1,003,501 shares during the quarter. Franklin Resources Inc. owned approximately 1.89% of Dover worth $486,235,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Spire Wealth Management grew its stake in shares of Dover by 2.1% during the fourth quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock valued at $464,000 after purchasing an additional 52 shares during the last quarter. ORG Partners LLC lifted its holdings in Dover by 5.4% during the 4th quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock worth $214,000 after buying an additional 58 shares in the last quarter. Trust Point Inc. boosted its position in Dover by 3.1% in the 4th quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock valued at $367,000 after buying an additional 59 shares during the last quarter. JGP Wealth Management LLC increased its stake in shares of Dover by 0.8% in the 4th quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company’s stock valued at $1,515,000 after buying an additional 62 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Dover by 3.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,401 shares of the industrial products company’s stock worth $450,000 after acquiring an additional 70 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Trading Up 0.7 %

Shares of NYSE DOV opened at $175.82 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Dover Co. has a twelve month low of $168.20 and a twelve month high of $222.31. The company’s fifty day moving average is $193.24 and its 200-day moving average is $193.64. The stock has a market cap of $24.10 billion, a price-to-earnings ratio of 9.04, a P/E/G ratio of 2.06 and a beta of 1.24.

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

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.515 per share. The ex-dividend date was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a yield of 1.17%. Dover’s payout ratio is 10.59%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. The Goldman Sachs Group raised their price target on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Barclays reduced their target price on shares of Dover from $213.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Citigroup dropped their price target on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company raised their price objective on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Finally, Oppenheimer reissued an “outperform” rating and issued a $225.00 price target (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $218.18.

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.