State of Tennessee Department of Treasury Sells 14,189 Shares of Dover Co. (NYSE:DOV)

State of Tennessee Department of Treasury trimmed its holdings in shares of Dover Co. (NYSE:DOV - Free Report) by 16.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,959 shares of the industrial products company's stock after selling 14,189 shares during the quarter. State of Tennessee Department of Treasury owned about 0.05% of Dover worth $13,500,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Ecofi Investissements SA grew its holdings in shares of Dover by 1.1% during the fourth quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company's stock worth $765,000 after purchasing an additional 50 shares in the last quarter. Spire Wealth Management lifted its position in Dover by 2.1% during the fourth quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company's stock valued at $464,000 after purchasing an additional 52 shares during the last quarter. ORG Partners LLC grew its stake in Dover by 5.4% in the 4th quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company's stock worth $214,000 after buying an additional 58 shares in the last quarter. Trust Point Inc. grew its stake 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 buying an additional 59 shares in the last quarter. Finally, JGP Wealth Management LLC increased its holdings in shares of Dover by 0.8% in the 4th quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company's stock worth $1,515,000 after buying an additional 62 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Up 3.5 %

Shares of NYSE DOV opened at $163.55 on Wednesday. The company has a market cap of $22.42 billion, a price-to-earnings ratio of 8.41, 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. The firm's fifty day moving average is $179.01 and its 200 day moving average is $190.07. Dover Co. has a 52 week low of $143.04 and a 52 week high of $222.31.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, equities research analysts expect that Dover Co. will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently issued reports on DOV shares. Royal Bank of Canada upped their target price on shares of Dover from $196.00 to $214.00 and gave the stock a "sector perform" rating in a research report on Friday, January 31st. Oppenheimer reiterated an "outperform" rating and issued a $225.00 price objective (up from $220.00) on shares of Dover in a report on Friday, January 31st. Wells Fargo & Company raised 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. Barclays cut their target price on Dover from $205.00 to $180.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Dover from $230.00 to $189.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Dover has a consensus rating of "Moderate Buy" and an average price target of $208.17.

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.

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