Dover Co. (NYSE:DOV) Position Reduced by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. cut its position in shares of Dover Co. (NYSE:DOV) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,846 shares of the industrial products company’s stock after selling 1,335 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Dover were worth $18,731,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Daiwa Securities Group Inc. lifted its stake in Dover by 5.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 23,459 shares of the industrial products company’s stock valued at $4,401,000 after buying an additional 1,314 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Dover by 0.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,466 shares of the industrial products company’s stock worth $13,595,000 after purchasing an additional 433 shares in the last quarter. AlphaQuest LLC lifted its position in shares of Dover by 170.1% in the fourth quarter. AlphaQuest LLC now owns 13,868 shares of the industrial products company’s stock worth $2,602,000 after purchasing an additional 8,733 shares in the last quarter. Amundi lifted its position in shares of Dover by 42.3% in the fourth quarter. Amundi now owns 648,525 shares of the industrial products company’s stock worth $121,417,000 after purchasing an additional 192,908 shares in the last quarter. Finally, HM Payson & Co. lifted its position in shares of Dover by 3.2% in the fourth quarter. HM Payson & Co. now owns 94,717 shares of the industrial products company’s stock worth $17,769,000 after purchasing an additional 2,893 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Barclays increased their price target on shares of Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. The Goldman Sachs Group increased their price target on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. increased their price objective on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Oppenheimer restated an “outperform” rating and issued a $225.00 price objective (up previously from $220.00) on shares of Dover in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $218.91.

Dover Trading Down 0.3 %

Shares of DOV stock opened at $185.46 on Monday. Dover Co. has a 12 month low of $168.20 and a 12 month high of $222.31. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $195.85 and its two-hundred day moving average is $193.76. The company has a market cap of $25.45 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last announced 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%. Equities analysts predict that Dover Co. will post 9.45 EPS for the current year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a $0.515 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.06 annualized dividend and a yield of 1.11%. Dover’s dividend payout ratio (DPR) 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.