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

Bank of New York Mellon Corp reduced its position in Dover Co. (NYSE:DOV) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 owned about 0.82% of Dover worth $211,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Crestwood Advisors Group LLC raised its position in shares of Dover by 1.4% in the fourth quarter. Crestwood Advisors Group LLC now owns 5,279 shares of the industrial products company’s stock worth $990,000 after acquiring an additional 75 shares during the period. Asset Advisors Investment Management LLC raised its holdings in Dover by 1.1% in the 4th quarter. Asset Advisors Investment Management LLC now owns 100,140 shares of the industrial products company’s stock worth $18,786,000 after purchasing an additional 1,061 shares during the period. Fisher Funds Management LTD acquired a new position in Dover in the 4th quarter worth about $3,865,000. Hudson Edge Investment Partners Inc. boosted its position in Dover by 2.0% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 34,082 shares of the industrial products company’s stock worth $6,394,000 after purchasing an additional 660 shares in the last quarter. Finally, Wolverine Asset Management LLC grew 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 purchasing an additional 5,500 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DOV. Barclays increased their target price on Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Wells Fargo & Company lifted their target price on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Citigroup reduced their price target on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada lifted their price objective on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Finally, UBS Group reduced their target price on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Stock Performance

Shares of Dover stock opened at $196.47 on Friday. The business’s 50 day moving average price is $195.86 and its 200 day moving average price is $193.11. The company has a market cap of $26.96 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 2.06 and a beta of 1.24. 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.

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, meeting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, research analysts predict that Dover Co. will post 9.45 EPS for the current year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.05%. Dover’s dividend payout ratio is currently 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.