Cornercap Investment Counsel Inc. Decreases Stake in Dover Co. (NYSE:DOV)

Cornercap Investment Counsel Inc. decreased its position in Dover Co. (NYSE:DOV) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,004 shares of the industrial products company’s stock after selling 304 shares during the quarter. Dover accounts for about 0.5% of Cornercap Investment Counsel Inc.’s holdings, making the stock its 25th biggest holding. Cornercap Investment Counsel Inc.’s holdings in Dover were worth $1,689,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in DOV. Spire Wealth Management raised its holdings in shares of Dover by 2.1% in the 4th 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 in the last quarter. ORG Partners LLC increased its holdings in Dover by 5.4% in the fourth quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock valued at $214,000 after buying an additional 58 shares during the last quarter. Trust Point Inc. raised its stake in Dover by 3.1% in the fourth quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock valued at $367,000 after buying an additional 59 shares in the last quarter. JGP Wealth Management LLC lifted its holdings in Dover by 0.8% during 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. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of Dover by 3.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,401 shares of the industrial products company’s stock worth $450,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Price Performance

Dover stock opened at $174.63 on Friday. The business has a 50 day simple moving average of $193.63 and a 200-day simple moving average of $193.56. Dover Co. has a 12 month low of $168.20 and a 12 month high of $222.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The stock has a market capitalization of $23.94 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, hitting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. Equities analysts predict that Dover Co. will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.18%. The ex-dividend date was Friday, February 28th. Dover’s payout ratio is 10.59%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wells Fargo & Company boosted 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. Citigroup reduced their price target 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. Oppenheimer restated an “outperform” rating and issued a $225.00 price objective (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. The Goldman Sachs Group boosted their target price on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, UBS Group dropped their price target on Dover from $217.00 to $211.00 and set a “neutral” rating on the stock 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $218.18.

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.