Avity Investment Management Inc. Sells 100 Shares of Dover Co. (NYSE:DOV)

Avity Investment Management Inc. lessened its position in Dover Co. (NYSE:DOV) by 4.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,168 shares of the industrial products company’s stock after selling 100 shares during the quarter. Avity Investment Management Inc.’s holdings in Dover were worth $407,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in DOV. Park Avenue Securities LLC boosted its position in Dover by 62.1% during the 4th quarter. Park Avenue Securities LLC now owns 8,192 shares of the industrial products company’s stock worth $1,537,000 after buying an additional 3,138 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of 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 worth $17,077,000 after acquiring an additional 60,235 shares during the period. Oak Thistle LLC bought a new stake in Dover in the fourth quarter valued at approximately $492,000. SeaCrest Wealth Management LLC increased its position in Dover by 19.2% during the 4th quarter. SeaCrest Wealth Management LLC now owns 1,655 shares of the industrial products company’s stock valued at $310,000 after purchasing an additional 266 shares during the period. Finally, First Financial Corp IN raised its holdings in Dover by 418.1% during the 4th quarter. First Financial Corp IN now owns 430 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 347 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Citigroup decreased their price objective on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research report on Monday. JPMorgan Chase & Co. increased their price target on Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Oppenheimer reissued an “outperform” rating and issued a $215.00 price objective (up from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Mizuho raised their target price on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $212.91.

Dover Price Performance

Shares of DOV opened at $188.93 on Wednesday. The stock has a market cap of $25.92 billion, a P/E ratio of 16.90, a P/E/G ratio of 2.70 and a beta of 1.22. The business’s fifty day moving average is $196.72 and its 200 day moving average is $188.71. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53. Dover Co. has a 12-month low of $143.96 and a 12-month high of $208.26.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, November 29th. Dover’s dividend payout ratio is currently 18.43%.

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.