Portland Global Advisors LLC Lowers Holdings in Dover Co. (NYSE:DOV)

Portland Global Advisors LLC reduced its position in Dover Co. (NYSE:DOV) by 10.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,545 shares of the industrial products company’s stock after selling 175 shares during the quarter. Portland Global Advisors LLC’s holdings in Dover were worth $290,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in shares of Dover in the 4th quarter worth approximately $28,000. R Squared Ltd purchased a new stake in Dover during the fourth quarter worth $34,000. EverSource Wealth Advisors LLC increased its holdings 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 valued at $37,000 after acquiring an additional 87 shares during the period. Kieckhefer Group LLC bought a new position in shares of Dover in the 4th quarter worth $38,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Dover during the 4th quarter worth $46,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on DOV. The Goldman Sachs Group increased their price target on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. lifted their price target on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. UBS Group decreased their price objective on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Oppenheimer reaffirmed an “outperform” rating and set a $225.00 target price (up from $220.00) on shares of Dover in a research report on Friday, January 31st. Finally, StockNews.com downgraded Dover from a “buy” rating to a “hold” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $218.18.

Dover Stock Performance

Shares of NYSE DOV opened at $174.63 on Friday. The stock has a market cap of $23.94 billion, a price-to-earnings ratio of 8.98, a PEG ratio of 2.06 and a beta of 1.24. Dover Co. has a 12 month low of $168.20 and a 12 month high of $222.31. The company has a 50 day simple moving average of $193.63 and a two-hundred day simple moving average of $193.64. 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 (NYSE:DOV) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share 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, analysts predict that Dover Co. will post 9.45 earnings per share for the current year.

Dover Announces Dividend

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

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.