Dover Co. (NYSE:DOV) Shares Sold by First Trust Advisors LP

First Trust Advisors LP lowered its stake in shares of Dover Co. (NYSE:DOV - Free Report) by 20.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 123,122 shares of the industrial products company's stock after selling 30,816 shares during the quarter. First Trust Advisors LP owned 0.09% of Dover worth $23,098,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Wolverine Asset Management LLC increased its position in shares of Dover by 78.6% during the fourth 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 during the period. Westpac Banking Corp increased its position in shares of 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 acquiring an additional 22,777 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Dover by 195.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company's stock worth $17,077,000 after acquiring an additional 60,235 shares during the period. Principal Financial Group Inc. increased its holdings in 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 during the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in Dover by 1.6% in 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 last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

Analysts Set New Price Targets

DOV has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on Dover from $230.00 to $189.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Oppenheimer reissued an "outperform" rating and issued a $225.00 target price (up previously from $220.00) on shares of Dover in a report on Friday, January 31st. UBS Group decreased their price objective on shares of Dover from $217.00 to $211.00 and set a "neutral" rating for the company in a research note 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, Citigroup decreased their price objective on shares of Dover from $244.00 to $201.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Dover currently has an average rating of "Moderate Buy" and an average target price of $206.33.

Dover Stock Performance

NYSE:DOV traded down $0.30 during mid-day trading on Tuesday, reaching $170.03. The stock had a trading volume of 1,508,135 shares, compared to its average volume of 974,965. Dover Co. has a twelve month low of $143.04 and a twelve month high of $222.31. The business has a 50 day simple moving average of $176.21 and a 200 day simple moving average of $189.56. The firm has a market capitalization of $23.30 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 2.06 and a beta of 1.24. 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 announced its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.99 by $0.06. Dover had a return on equity of 21.03% and a net margin of 32.95%. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the company earned $1.95 EPS. The firm's revenue for the quarter was down .9% compared to the same quarter last year. On average, analysts expect that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders 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 1.21%. The ex-dividend date was Friday, February 28th. Dover's dividend payout ratio is presently 12.41%.

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.