Forsta AP Fonden Sells 3,500 Shares of Dover Co. (NYSE:DOV)

Forsta AP Fonden lessened its holdings in Dover Co. (NYSE:DOV) by 10.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,000 shares of the industrial products company’s stock after selling 3,500 shares during the quarter. Forsta AP Fonden’s holdings in Dover were worth $5,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on DOV. StockNews.com downgraded Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. UBS Group lowered their price objective on Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research note on Friday. JPMorgan Chase & Co. lifted their target price on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price objective (up from $220.00) on shares of Dover in a report on Friday. Finally, Citigroup lowered their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Stock Down 1.0 %

Shares of NYSE DOV opened at $203.42 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average of $195.57 and a 200-day moving average of $190.34. The firm has a market capitalization of $27.91 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 2.03 and a beta of 1.23. Dover Co. has a 12 month low of $148.45 and a 12 month high of $214.57.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a net margin of 18.63% and a return on equity of 23.61%. Sell-side analysts expect that Dover Co. will post 8.17 earnings per share for the current fiscal year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.01%. The ex-dividend date was Friday, November 29th. Dover’s dividend payout ratio (DPR) is currently 18.43%.

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.