BI Asset Management Fondsmaeglerselskab A S Lowers Holdings in Dover Co. (NYSE:DOV)

BI Asset Management Fondsmaeglerselskab A S lowered its stake in shares of Dover Co. (NYSE:DOV - Free Report) by 45.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 6,137 shares of the industrial products company's stock after selling 5,192 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Dover were worth $1,151,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of DOV. Wolverine Asset Management LLC lifted its holdings 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 valued at $2,345,000 after acquiring an additional 5,500 shares during the period. Westpac Banking Corp increased its holdings in shares of Dover by 1,332.8% during the 4th quarter. Westpac Banking Corp now owns 24,486 shares of the industrial products company's stock valued at $4,594,000 after purchasing an additional 22,777 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Dover by 195.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company's stock valued at $17,077,000 after purchasing an additional 60,235 shares during the period. Principal Financial Group Inc. grew its position in Dover by 3.1% during the third quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company's stock valued at $34,100,000 after buying an additional 5,372 shares during the period. Finally, Commonwealth Equity Services LLC grew its position 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 buying an additional 444 shares during the period. Institutional investors and hedge funds own 84.46% of the company's stock.

Dover Stock Performance

DOV opened at $163.55 on Wednesday. Dover Co. has a twelve month low of $143.04 and a twelve month high of $222.31. The firm has a market capitalization of $22.42 billion, a PE ratio of 8.41, a PEG ratio of 2.06 and a beta of 1.24. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The firm's 50-day moving average price is $179.01 and its 200 day moving average price is $190.07.

Dover (NYSE:DOV - Get Free Report) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share 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%. As a group, sell-side analysts expect that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.515 per share. The ex-dividend date was Friday, February 28th. This represents a $2.06 annualized dividend and a dividend yield of 1.26%. Dover's payout ratio is 10.59%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DOV. Citigroup lowered their target price on shares of Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Barclays dropped their price objective on Dover from $205.00 to $180.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. UBS Group reduced their target price on Dover from $217.00 to $211.00 and set a "neutral" rating for the company in a research note on Friday, January 31st. Royal Bank of Canada lifted their price target on shares of Dover from $196.00 to $214.00 and gave the company a "sector perform" rating in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Dover from $230.00 to $189.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Dover currently has a consensus rating of "Moderate Buy" and a consensus target price of $208.17.

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.

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