Wedge Capital Management L L P NC Sells 3,349 Shares of Dover Co. (NYSE:DOV)

Wedge Capital Management L L P NC lowered its position in shares of Dover Co. (NYSE:DOV) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,280 shares of the industrial products company’s stock after selling 3,349 shares during the period. Wedge Capital Management L L P NC owned 0.07% of Dover worth $16,749,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of Dover during the third quarter worth $33,000. Fairscale Capital LLC bought a new position in Dover during the second quarter worth $34,000. Kieckhefer Group LLC bought a new stake in Dover during the fourth quarter valued at $38,000. Avior Wealth Management LLC grew its holdings in Dover by 183.5% during the 3rd quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 167 shares during the period. Finally, Coastline Trust Co acquired a new position in shares of Dover in the 3rd quarter valued at about $50,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on DOV. JPMorgan Chase & Co. lowered their target price on Dover from $212.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday. Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research report on Monday, October 28th. The Goldman Sachs Group upped their price target on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Wells Fargo & Company dropped their price target on shares of Dover from $205.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $212.55.

Dover Stock Performance

NYSE:DOV opened at $195.00 on Friday. The stock has a market cap of $26.75 billion, a P/E ratio of 17.44, a PEG ratio of 2.15 and a beta of 1.23. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. The business’s 50-day moving average price is $196.15 and its two-hundred day moving average price is $188.95. Dover Co. has a twelve month low of $144.63 and a twelve month high of $208.26.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Friday, November 29th. Dover’s payout ratio is 18.43%.

Dover Company 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.