DnB Asset Management AS Decreases Stake in Dover Co. (NYSE:DOV)

DnB Asset Management AS cut its holdings in shares of Dover Co. (NYSE:DOV) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,356 shares of the industrial products company’s stock after selling 292 shares during the quarter. DnB Asset Management AS’s holdings in Dover were worth $6,633,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Financial Life Planners bought a new stake in shares of Dover in the fourth quarter valued at approximately $28,000. R Squared Ltd bought a new stake in Dover during the 4th quarter valued at $34,000. EverSource Wealth Advisors LLC lifted its position in shares of Dover by 79.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 87 shares in the last quarter. Kieckhefer Group LLC bought a new position in shares of Dover in the fourth quarter worth $38,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Dover in the fourth quarter valued at $46,000. Institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on DOV shares. Citigroup cut their target price on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Oppenheimer restated an “outperform” rating and issued a $225.00 price objective (up from $220.00) on shares of Dover in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Barclays cut their price target on shares of Dover from $213.00 to $205.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Finally, StockNews.com downgraded Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $218.18.

Dover Stock Down 2.5 %

DOV opened at $174.63 on Monday. The business’s fifty day simple moving average is $193.63 and its 200 day simple moving average is $193.72. Dover Co. has a 52 week low of $168.20 and a 52 week high of $222.31. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $23.94 billion, a PE ratio of 8.98, a P/E/G ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting 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, research analysts expect that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

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

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.