Dover Co. (NYSE:DOV) Shares Sold by Puzo Michael J

Puzo Michael J reduced its position in Dover Co. (NYSE:DOV) by 38.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,100 shares of the industrial products company’s stock after selling 700 shares during the quarter. Puzo Michael J’s holdings in Dover were worth $206,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of DOV. Townsquare Capital LLC boosted its stake in Dover by 16.8% during the 3rd quarter. Townsquare Capital LLC now owns 1,986 shares of the industrial products company’s stock worth $381,000 after purchasing an additional 286 shares during the period. Public Sector Pension Investment Board raised its holdings in shares of Dover by 13.3% in the third quarter. Public Sector Pension Investment Board now owns 5,959 shares of the industrial products company’s stock valued at $1,143,000 after buying an additional 700 shares during the last quarter. Benjamin Edwards Inc. acquired a new stake in shares of Dover during the third quarter worth about $218,000. Hilltop Holdings Inc. increased its position in Dover by 19.6% in the 3rd quarter. Hilltop Holdings Inc. now owns 2,706 shares of the industrial products company’s stock valued at $519,000 after acquiring an additional 444 shares during the period. Finally, Investment Management Corp of Ontario raised its stake in Dover by 49.1% during the 3rd quarter. Investment Management Corp of Ontario now owns 4,553 shares of the industrial products company’s stock valued at $873,000 after acquiring an additional 1,500 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Performance

NYSE DOV opened at $162.67 on Friday. The business has a 50 day moving average price of $191.68 and a 200 day moving average price of $193.26. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The company has a market capitalization of $22.30 billion, a P/E ratio of 8.36, a PEG ratio of 2.06 and a beta of 1.24. Dover Co. has a 1-year low of $161.52 and a 1-year high of $222.31.

Dover (NYSE:DOV) last released its quarterly earnings results 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 return on equity of 21.03% and a net margin of 32.95%. Sell-side analysts expect that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.515 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 annualized dividend and a dividend yield of 1.27%. Dover’s dividend payout ratio is presently 10.59%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on DOV shares. JPMorgan Chase & Co. lifted their target price on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Oppenheimer reissued an “outperform” rating and issued a $225.00 price objective (up from $220.00) on shares of Dover in a research note on Friday, January 31st. UBS Group reduced their target price on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Citigroup reduced 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, January 13th. Finally, The Goldman Sachs Group lifted their price objective on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Five research 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, Dover currently has an average rating of “Moderate Buy” and an average target price of $218.18.

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.