Wells Fargo & Company MN Sells 28,725 Shares of Dover Co. (NYSE:DOV)

Wells Fargo & Company MN lessened its holdings in shares of Dover Co. (NYSE:DOV - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,121,125 shares of the industrial products company's stock after selling 28,725 shares during the period. Wells Fargo & Company MN owned 1.55% of Dover worth $397,923,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Life Planners bought a new stake in Dover during the fourth quarter worth about $28,000. R Squared Ltd purchased a new stake in shares of Dover in the 4th quarter worth approximately $34,000. EverSource Wealth Advisors LLC grew its stake in shares of Dover by 79.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock worth $37,000 after buying an additional 87 shares during the last quarter. Kieckhefer Group LLC purchased a new position in Dover during the fourth quarter valued at $38,000. Finally, Golden State Wealth Management LLC bought a new stake in Dover in the fourth quarter worth $46,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Trading Down 5.6 %

Shares of NYSE:DOV opened at $153.69 on Friday. The stock's 50-day simple moving average is $190.78 and its two-hundred day simple moving average is $193.03. The stock has a market capitalization of $21.06 billion, a price-to-earnings ratio of 7.90, a PEG ratio of 2.06 and a beta of 1.24. Dover Co. has a 52-week low of $150.60 and a 52-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.

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Dover (NYSE:DOV - Get Free Report) last announced its 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 net margin of 32.95% and a return on equity of 21.03%. Analysts expect that Dover Co. will post 9.45 EPS for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a dividend of $0.515 per share. The ex-dividend date was Friday, February 28th. This represents a $2.06 annualized dividend and a yield of 1.34%. Dover's dividend payout ratio (DPR) is presently 10.59%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on Dover from $196.00 to $214.00 and gave the stock a "sector perform" rating in a research report on Friday, January 31st. Citigroup dropped their target price on shares of Dover from $236.00 to $222.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. StockNews.com downgraded shares of Dover from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. The Goldman Sachs Group increased their target price on Dover from $202.00 to $223.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Finally, UBS Group decreased their price target on Dover from $217.00 to $211.00 and set a "neutral" rating for the company in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $218.18.

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.

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