Price T Rowe Associates Inc. MD Decreases Stock Holdings in Dover Co. (NYSE:DOV)

Price T Rowe Associates Inc. MD lowered its stake in shares of Dover Co. (NYSE:DOV - Free Report) by 56.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,607,392 shares of the industrial products company's stock after selling 2,063,308 shares during the period. Price T Rowe Associates Inc. MD owned approximately 1.17% of Dover worth $301,547,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Life Planners purchased a new position in Dover in the fourth quarter valued at about $28,000. R Squared Ltd purchased a new position in Dover in the fourth quarter valued at approximately $34,000. EverSource Wealth Advisors LLC grew its holdings in Dover by 79.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 87 shares during the period. Kieckhefer Group LLC purchased a new stake in Dover in the fourth quarter worth $38,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Dover in the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Oppenheimer reissued an "outperform" rating and issued a $225.00 price objective (up previously from $220.00) on shares of Dover in a report on Friday, January 31st. JPMorgan Chase & Co. reduced their target price on shares of Dover from $230.00 to $189.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Robert W. Baird dropped their price target on shares of Dover from $238.00 to $219.00 and set an "outperform" rating on the stock in a research note on Friday. StockNews.com lowered shares of Dover from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $176.00 target price on shares of Dover in a research report on Friday. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $206.33.

Dover Price Performance

Shares of NYSE DOV traded down $0.30 during mid-day trading on Tuesday, reaching $170.03. 1,508,135 shares of the company were exchanged, compared to its average volume of 974,965. Dover Co. has a 52 week low of $143.04 and a 52 week high of $222.31. The company's 50 day moving average price is $176.21 and its 200 day moving average price is $189.56. The stock has a market capitalization of $23.30 billion, a PE ratio of 8.74, a PEG ratio of 2.06 and a beta of 1.24. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.99 by $0.06. The firm had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.88 billion. Dover had a return on equity of 21.03% and a net margin of 32.95%. The company's revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.95 EPS. 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 announced a quarterly dividend, which was paid on Friday, March 14th. Investors 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 1.21%. The ex-dividend date of this dividend was Friday, February 28th. Dover's 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.