Envestnet Asset Management Inc. Reduces Stock Position in Dover Co. (NYSE:DOV)

Envestnet Asset Management Inc. decreased its position in shares of Dover Co. (NYSE:DOV - Free Report) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 187,192 shares of the industrial products company's stock after selling 2,464 shares during the quarter. Envestnet Asset Management Inc. owned 0.14% of Dover worth $35,117,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in DOV. Spire Wealth Management lifted its position in shares of Dover by 2.1% during the 4th quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company's stock valued at $464,000 after buying an additional 52 shares in the last quarter. ORG Partners LLC lifted its holdings in Dover by 5.4% during the fourth quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company's stock valued at $214,000 after purchasing an additional 58 shares in the last quarter. Trust Point Inc. grew its position in shares of Dover by 3.1% in the fourth quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company's stock valued at $367,000 after purchasing an additional 59 shares during the period. JGP Wealth Management LLC increased its stake in shares of Dover by 0.8% during the fourth quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company's stock worth $1,515,000 after purchasing an additional 62 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Dover by 3.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,401 shares of the industrial products company's stock worth $450,000 after purchasing an additional 70 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of brokerages have commented on DOV. Morgan Stanley assumed coverage on Dover in a report on Monday. They set an "equal weight" rating and a $185.00 target price for the company. Oppenheimer reaffirmed an "outperform" rating and set a $225.00 target price (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. StockNews.com lowered Dover from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Barclays cut their price objective on shares of Dover from $205.00 to $180.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Finally, Citigroup decreased their target price on shares of Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a report on Monday. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $208.17.

Dover Trading Down 0.2 %

NYSE:DOV traded down $0.40 during trading hours on Tuesday, reaching $163.27. 698,092 shares of the stock were exchanged, compared to its average volume of 955,148. The business has a 50-day moving average of $183.98 and a two-hundred day moving average of $191.28. Dover Co. has a twelve month low of $143.04 and a twelve month high of $222.31. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $22.38 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (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, equities analysts predict that Dover Co. will post 9.45 EPS for the current year.

Dover Dividend Announcement

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

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.