Dover Co. (NYSE:DOV) Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. reduced its position in Dover Co. (NYSE:DOV) by 71.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,159 shares of the industrial products company’s stock after selling 2,948 shares during the quarter. Congress Asset Management Co.’s holdings in Dover were worth $217,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Nations Financial Group Inc. IA ADV boosted its stake in Dover by 3.8% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 5,069 shares of the industrial products company’s stock worth $951,000 after purchasing an additional 186 shares during the period. WealthPLAN Partners LLC boosted its stake in shares of Dover by 1.6% during the fourth quarter. WealthPLAN Partners LLC now owns 16,287 shares of the industrial products company’s stock worth $3,055,000 after buying an additional 251 shares during the period. V Square Quantitative Management LLC grew its holdings in shares of Dover by 5.5% during the fourth quarter. V Square Quantitative Management LLC now owns 3,844 shares of the industrial products company’s stock worth $721,000 after buying an additional 201 shares during the last quarter. Asset Management One Co. Ltd. increased its position in Dover by 0.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 53,917 shares of the industrial products company’s stock valued at $10,154,000 after acquiring an additional 299 shares during the period. Finally, Life Planning Partners Inc purchased a new stake in Dover during the 4th quarter valued at approximately $7,919,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DOV has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Barclays boosted their price objective on shares of Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a research note on Monday, October 28th. Royal Bank of Canada boosted their price target on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Finally, Citigroup reduced their price objective on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Price Performance

DOV stock opened at $205.21 on Wednesday. The firm has a 50 day moving average of $195.35 and a 200-day moving average of $192.09. The company has a market cap of $28.15 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 2.03 and a beta of 1.24. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. Dover Co. has a 12-month low of $159.48 and a 12-month high of $222.31.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) 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%. As a group, equities analysts expect that Dover Co. will post 9.47 EPS for the current fiscal year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.515 per share. The ex-dividend date is Friday, February 28th. This represents a $2.06 annualized dividend and a yield of 1.00%. Dover’s dividend payout ratio (DPR) is currently 10.59%.

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.