Dover Co. (NYSE:DOV) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. trimmed its stake in Dover Co. (NYSE:DOV - Free Report) by 19.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 283,899 shares of the industrial products company's stock after selling 70,087 shares during the quarter. Alliancebernstein L.P. owned approximately 0.21% of Dover worth $53,259,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in Dover in the 4th quarter valued at about $316,228,000. Amundi boosted its position in Dover by 42.3% during the fourth quarter. Amundi now owns 648,525 shares of the industrial products company's stock worth $121,417,000 after acquiring an additional 192,908 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Dover in the 4th quarter worth approximately $30,741,000. Proficio Capital Partners LLC acquired a new position in Dover in the 4th quarter valued at $28,718,000. Finally, National Bank of Canada FI lifted its stake in shares of Dover by 313.7% during the 3rd quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company's stock worth $36,647,000 after purchasing an additional 144,930 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on DOV. Barclays reduced their target price on Dover from $213.00 to $205.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. JPMorgan Chase & Co. increased their price objective on shares of Dover from $208.00 to $230.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. UBS Group lowered their target price on shares of Dover from $217.00 to $211.00 and set a "neutral" rating for the company in a report on Friday, January 31st. StockNews.com downgraded shares of Dover from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Finally, The Goldman Sachs Group boosted their price objective on shares of Dover from $202.00 to $223.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $218.18.

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Dover Stock Performance

Shares of NYSE:DOV opened at $153.69 on Friday. The company has a market cap of $21.06 billion, a P/E ratio of 7.90, a PEG ratio of 2.06 and a beta of 1.24. Dover Co. has a one year low of $150.60 and a one year high of $222.31. The business's 50-day simple moving average is $190.78 and its 200 day simple moving average is $193.03. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04.

Dover (NYSE:DOV - Get Free Report) last posted 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 net margin of 32.95% and a return on equity of 21.03%. On average, sell-side analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date was Friday, February 28th. Dover's dividend payout ratio is currently 10.59%.

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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