Rhumbline Advisers Reduces Position in Dover Co. (NYSE:DOV)

Rhumbline Advisers cut its holdings in shares of Dover Co. (NYSE:DOV - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 259,692 shares of the industrial products company's stock after selling 5,492 shares during the quarter. Rhumbline Advisers owned about 0.19% of Dover worth $48,718,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of DOV. FMR LLC grew its holdings in shares of Dover by 5.1% during the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company's stock worth $591,676,000 after purchasing an additional 149,378 shares during the period. National Bank of Canada FI grew its holdings in shares of Dover by 313.7% during the 3rd quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company's stock worth $36,647,000 after purchasing an additional 144,930 shares during the period. Barclays PLC grew its holdings in shares of Dover by 26.6% during the 3rd quarter. Barclays PLC now owns 360,291 shares of the industrial products company's stock worth $69,082,000 after purchasing an additional 75,670 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Dover during the 3rd quarter worth $14,459,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Dover by 195.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company's stock worth $17,077,000 after purchasing an additional 60,235 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Down 2.9 %

DOV stock traded down $6.00 during mid-day trading on Friday, reaching $200.43. The company had a trading volume of 1,214,486 shares, 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. Dover Co. has a fifty-two week low of $161.19 and a fifty-two week high of $222.31. The company has a market capitalization of $27.51 billion, a price-to-earnings ratio of 10.30, a price-to-earnings-growth ratio of 2.04 and a beta of 1.24. The firm has a fifty day simple moving average of $195.51 and a 200 day simple moving average of $192.47.

Dover (NYSE:DOV - Get Free Report) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

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

Wall Street Analysts Forecast Growth

DOV has been the subject of a number of research analyst reports. Royal Bank of Canada increased their price target on Dover from $196.00 to $214.00 and gave the stock a "sector perform" rating in a report on Friday, January 31st. Wells Fargo & Company increased their target price on Dover from $200.00 to $215.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. Wolfe Research raised Dover from a "peer perform" rating to an "outperform" rating and set a $227.00 target price on the stock in a research note on Monday, October 28th. Barclays increased their target price on Dover from $205.00 to $213.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. Finally, StockNews.com raised Dover from a "hold" rating to a "buy" rating in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.