Legal & General Group Plc cut its stake in shares of Dover Co. (NYSE:DOV - Free Report) by 23.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 844,775 shares of the industrial products company's stock after selling 258,959 shares during the quarter. Legal & General Group Plc owned 0.62% of Dover worth $158,480,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Spire Wealth Management increased its holdings in shares of Dover by 2.1% during the fourth quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company's stock worth $464,000 after buying an additional 52 shares in the last quarter. ORG Partners LLC grew its position in Dover by 5.4% during the 4th quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company's stock worth $214,000 after acquiring an additional 58 shares during the last quarter. Trust Point Inc. increased its holdings in Dover by 3.1% in the 4th quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company's stock worth $367,000 after purchasing an additional 59 shares in the last quarter. JGP Wealth Management LLC raised its position in Dover by 0.8% in the fourth quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company's stock valued at $1,515,000 after purchasing an additional 62 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Dover by 3.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,401 shares of the industrial products company's stock valued at $450,000 after purchasing an additional 70 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
DOV has been the subject of a number of research reports. Citigroup dropped their price objective on shares of Dover from $236.00 to $222.00 and set a "buy" rating for the company in a report on Monday, January 13th. StockNews.com downgraded shares of Dover from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. JPMorgan Chase & Co. reduced their price objective on shares of Dover from $230.00 to $189.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company increased their price objective on Dover from $200.00 to $215.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. Finally, Royal Bank of Canada upped their price target on Dover from $196.00 to $214.00 and gave the company a "sector perform" rating in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $212.18.
Get Our Latest Research Report on DOV
Dover Trading Up 1.7 %
Shares of NYSE:DOV traded up $2.67 during midday trading on Friday, reaching $162.23. The company's stock had a trading volume of 1,590,092 shares, compared to its average volume of 953,778. Dover Co. has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. 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 50 day moving average price of $184.81 and a two-hundred day moving average price of $191.50. The firm has a market capitalization of $22.24 billion, a price-to-earnings ratio of 8.34, 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, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. As a group, analysts forecast that Dover Co. will post 9.45 earnings per share for the current year.
Dover Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.27%. The ex-dividend date was Friday, February 28th. Dover's dividend payout ratio (DPR) is currently 10.59%.
Dover Company Profile
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Free Report)
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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