Prudential Financial Inc. Reduces Holdings in Dover Co. (NYSE:DOV)

Prudential Financial Inc. reduced its holdings in shares of Dover Co. (NYSE:DOV) by 9.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,046 shares of the industrial products company’s stock after selling 8,733 shares during the period. Prudential Financial Inc. owned about 0.06% of Dover worth $15,955,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DOV. Wolverine Asset Management LLC increased its position in Dover by 78.6% in 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. Assenagon Asset Management S.A. raised its stake in Dover by 195.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock worth $17,077,000 after acquiring an additional 60,235 shares during the period. Principal Financial Group Inc. raised 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 worth $34,100,000 after acquiring an additional 5,372 shares during the period. Commonwealth Equity Services LLC lifted its holdings in Dover by 1.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 27,626 shares of the industrial products company’s stock valued at $5,183,000 after purchasing an additional 444 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in shares of Dover by 28.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 23,831 shares of the industrial products company’s stock valued at $4,471,000 after purchasing an additional 5,289 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Down 1.7 %

Shares of NYSE:DOV opened at $179.16 on Friday. The company has a 50-day moving average price of $194.03 and a 200 day moving average price of $193.59. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. Dover Co. has a 12 month low of $168.20 and a 12 month high of $222.31. The company has a market cap of $24.56 billion, a price-to-earnings ratio of 9.21, a PEG ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last announced its earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. As a group, equities research analysts predict that Dover Co. will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The company also recently declared 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 of this dividend was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.15%. Dover’s dividend payout ratio is presently 10.59%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DOV shares. Oppenheimer reissued an “outperform” rating and set a $225.00 price target (up from $220.00) on shares of Dover in a report on Friday, January 31st. Barclays cut their target price on Dover from $213.00 to $205.00 and set an “equal weight” rating for the company in a research report on Wednesday. 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 report on Friday, January 31st. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, UBS Group dropped 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. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $218.18.

About Dover

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.