Kornitzer Capital Management Inc. KS Sells 454 Shares of Dover Co. (NYSE:DOV)

Kornitzer Capital Management Inc. KS lessened its stake in Dover Co. (NYSE:DOV) by 6.0% in the fourth quarter, HoldingsChannel reports. The firm owned 7,130 shares of the industrial products company’s stock after selling 454 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Dover were worth $1,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. FMR LLC boosted 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 acquiring an additional 149,378 shares during the last quarter. National Bank of Canada FI boosted its stake in shares of Dover by 313.7% during the 3rd quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company’s stock worth $36,647,000 after acquiring an additional 144,930 shares during the last quarter. Barclays PLC boosted its stake in shares of Dover by 26.6% during the 3rd quarter. Barclays PLC now owns 360,291 shares of the industrial products company’s stock worth $69,082,000 after acquiring an additional 75,670 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Dover during the 3rd quarter worth $14,459,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Dover by 195.6% during the 4th 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 last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of NYSE:DOV opened at $204.83 on Thursday. The firm has a market cap of $28.10 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.24. The firm’s 50 day simple moving average is $195.42 and its 200-day simple moving average is $192.18. Dover Co. has a one year low of $159.48 and a one year 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.

Dover (NYSE:DOV) last issued its 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 32.95% and a return on equity of 21.03%. As a group, equities analysts predict that Dover Co. will post 9.45 EPS for the current year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.515 per share. The ex-dividend date is Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.01%. Dover’s dividend payout ratio is presently 10.59%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DOV shares. Oppenheimer reiterated an “outperform” rating and set a $225.00 price target (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. Wolfe Research upgraded shares of 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. UBS Group lowered their target price on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Citigroup dropped their price objective on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, Barclays increased their price objective on shares of Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $218.91.

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.