Sentry Investment Management LLC Lowers Stock Holdings in Dover Co. (NYSE:DOV)

Sentry Investment Management LLC lowered its position in Dover Co. (NYSE:DOV) by 14.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 525 shares of the industrial products company’s stock after selling 86 shares during the quarter. Sentry Investment Management LLC’s holdings in Dover were worth $98,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versor Investments LP acquired a new position in Dover in the third quarter valued at $1,920,000. Assenagon Asset Management S.A. boosted its holdings in Dover by 195.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock valued at $17,077,000 after acquiring an additional 60,235 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Dover by 3.1% in the third quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock valued at $34,100,000 after acquiring an additional 5,372 shares during the last quarter. Wolverine Asset Management LLC boosted its holdings in Dover by 78.6% in the fourth quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company’s stock valued at $2,345,000 after acquiring an additional 5,500 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in Dover by 54.3% in the third quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock valued at $2,523,000 after acquiring an additional 4,629 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Trading Down 0.4 %

NYSE:DOV opened at $197.49 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. Dover Co. has a one year low of $163.32 and a one year high of $222.31. The business’s 50-day simple moving average is $195.71 and its 200 day simple moving average is $193.08. The stock has a market cap of $27.10 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last released its quarterly 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 return on equity of 21.03% and a net margin of 32.95%. As a group, sell-side analysts predict that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s dividend payout ratio is currently 10.59%.

Analyst Ratings Changes

DOV has been the topic of a number of research analyst reports. UBS Group reduced their target price on Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Royal Bank of Canada boosted their price objective on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Citigroup reduced their price objective on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Finally, The Goldman Sachs Group boosted their price objective on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $218.91.

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.