Hartford Investment Management Co. Has $1.60 Million Stake in Dover Co. (NYSE:DOV)

Hartford Investment Management Co. reduced its stake in shares of Dover Co. (NYSE:DOV) by 1.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 8,506 shares of the industrial products company’s stock after selling 164 shares during the period. Hartford Investment Management Co.’s holdings in Dover were worth $1,596,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Advisors Inc. OK purchased a new stake in Dover in the 4th quarter valued at $289,000. Guided Capital Wealth Management LLC bought a new stake in shares of Dover in the 4th quarter worth $1,622,000. Stonebridge Financial Group LLC purchased a new stake in shares of Dover in the fourth quarter valued at about $107,000. Regents Gate Capital LLP bought a new position in shares of Dover during the fourth quarter valued at about $6,332,000. Finally, Kestra Private Wealth Services LLC boosted its holdings in Dover by 29.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 6,206 shares of the industrial products company’s stock worth $1,164,000 after purchasing an additional 1,427 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price objective (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. Citigroup dropped their price target on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Royal Bank of Canada raised their target price on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. Finally, Mizuho boosted their price target on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Trading Up 0.8 %

Shares of DOV opened at $202.76 on Friday. The firm has a market cap of $27.82 billion, a P/E ratio of 10.42, a price-to-earnings-growth ratio of 2.03 and a beta of 1.24. Dover Co. has a fifty-two week low of $159.23 and a fifty-two week high of $222.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The business has a 50-day moving average of $195.23 and a 200 day moving average of $191.50.

Dover (NYSE:DOV) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share 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, research analysts forecast that Dover Co. will post 9.47 EPS for the current year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.02%. Dover’s dividend payout ratio is currently 10.59%.

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.