Dover Co. (NYSE:DOV) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in Dover Co. (NYSE:DOV) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,128,448 shares of the industrial products company’s stock after selling 23,590 shares during the period. Bank of New York Mellon Corp’s holdings in Dover were worth $211,697,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its position in Dover by 0.9% in the 3rd quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock valued at $1,191,531,000 after purchasing an additional 56,149 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Dover by 0.8% during the third quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock worth $616,945,000 after buying an additional 25,993 shares during the period. FMR LLC raised its holdings in Dover by 5.1% in the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after acquiring an additional 149,378 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Dover by 1.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company’s stock worth $188,815,000 after acquiring an additional 17,193 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Dover by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 811,340 shares of the industrial products company’s stock worth $155,566,000 after acquiring an additional 9,464 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Thursday. UBS Group decreased their price target on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Royal Bank of Canada increased their price objective on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. The Goldman Sachs Group boosted their target price on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company increased their price target on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $218.91.

Dover Price Performance

DOV stock opened at $196.47 on Friday. The business has a 50 day simple moving average of $195.86 and a 200-day simple moving average of $193.11. The company has a market capitalization of $26.96 billion, a P/E ratio of 10.10, a PEG ratio of 2.06 and a beta of 1.24. Dover Co. has a twelve month low of $163.32 and a twelve month high of $222.31. 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 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 net margin of 32.95% and a return on equity of 21.03%. As a group, equities analysts anticipate that Dover Co. will post 9.45 EPS for the current year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.05%. The ex-dividend date is Friday, February 28th. 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.