Dover Co. (NYSE:DOV) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co trimmed its holdings in shares of Dover Co. (NYSE:DOV - Free Report) by 8.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 114,353 shares of the industrial products company's stock after selling 10,397 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.08% of Dover worth $21,460,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC boosted its stake in shares of Dover by 78.6% during the 4th quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company's stock worth $2,345,000 after acquiring an additional 5,500 shares in the last quarter. Westpac Banking Corp boosted its position in Dover by 1,332.8% during the fourth quarter. Westpac Banking Corp now owns 24,486 shares of the industrial products company's stock worth $4,594,000 after purchasing an additional 22,777 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings 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 valued at $17,077,000 after purchasing an additional 60,235 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Dover by 3.1% in 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 in the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in shares of Dover by 1.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 27,626 shares of the industrial products company's stock worth $5,183,000 after buying an additional 444 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Trading Up 2.0 %

NYSE DOV traded up $3.26 during trading hours on Thursday, hitting $169.61. 2,578,944 shares of the company's stock were exchanged, compared to its average volume of 978,911. 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 $23.25 billion, a P/E ratio of 8.72, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The business's 50 day moving average is $178.28 and its 200-day moving average is $189.91. Dover Co. has a 12-month low of $143.04 and a 12-month high of $222.31.

Dover (NYSE:DOV - Get Free Report) last released its earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.04. Dover had a net margin of 32.95% and a return on equity of 21.03%. As a group, analysts anticipate that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Friday, February 28th. Dover's dividend payout ratio (DPR) is presently 10.59%.

Wall Street Analyst Weigh In

DOV has been the topic of a number of research reports. Citigroup lowered their price objective 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. UBS Group lowered their price target on shares of Dover from $217.00 to $211.00 and set a "neutral" rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. cut their price objective on Dover from $230.00 to $189.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Morgan Stanley assumed coverage on Dover in a report on Monday, April 14th. They set an "equal weight" rating and a $185.00 target price on the stock. Finally, 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. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $208.17.

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.