Congress Asset Management Co. Has $217,000 Position in Dover Co. (NYSE:DOV)

Congress Asset Management Co. decreased its holdings in shares of Dover Co. (NYSE:DOV - Free Report) by 71.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,159 shares of the industrial products company's stock after selling 2,948 shares during the quarter. Congress Asset Management Co.'s holdings in Dover were worth $217,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of DOV. Nations Financial Group Inc. IA ADV boosted its holdings in Dover by 3.8% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 5,069 shares of the industrial products company's stock worth $951,000 after purchasing an additional 186 shares in the last quarter. WealthPLAN Partners LLC boosted its holdings in Dover by 1.6% in the fourth quarter. WealthPLAN Partners LLC now owns 16,287 shares of the industrial products company's stock worth $3,055,000 after purchasing an additional 251 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in Dover by 5.5% in the fourth quarter. V Square Quantitative Management LLC now owns 3,844 shares of the industrial products company's stock worth $721,000 after purchasing an additional 201 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in Dover by 0.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 53,917 shares of the industrial products company's stock worth $10,154,000 after purchasing an additional 299 shares in the last quarter. Finally, Life Planning Partners Inc bought a new stake in Dover in the fourth quarter worth $7,919,000. Institutional investors own 84.46% of the company's stock.

Dover Price Performance

Dover stock traded down $6.00 during trading hours on Friday, hitting $200.43. 1,214,486 shares of the stock were exchanged, compared to its average volume of 857,595. 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 stock has a market capitalization of $27.51 billion, a P/E ratio of 10.30, a P/E/G ratio of 2.04 and a beta of 1.24. Dover Co. has a 12 month low of $161.19 and a 12 month high of $222.31. The business's 50-day moving average is $195.53 and its two-hundred day moving average is $192.28.

Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. Equities research analysts expect that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.06 annualized dividend and a dividend yield of 1.03%. Dover's dividend payout ratio (DPR) is currently 10.59%.

Analyst Ratings Changes

DOV has been the subject of a number of recent research reports. Barclays upped their price objective on shares of Dover from $205.00 to $213.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. Royal Bank of Canada boosted their target price on shares of Dover from $196.00 to $214.00 and gave the stock a "sector perform" rating in a research report on Friday, January 31st. The Goldman Sachs Group boosted their target price on shares of Dover from $202.00 to $223.00 and gave the stock a "buy" rating in a research report on Thursday, December 12th. Oppenheimer reissued an "outperform" rating and set a $225.00 target price (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Dover from $208.00 to $230.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Dover has an average rating of "Moderate Buy" and an average price target of $218.91.

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.