Wesbanco Bank Inc. Cuts Stock Holdings in Dover Co. (NYSE:DOV)

Wesbanco Bank Inc. decreased its holdings in shares of Dover Co. (NYSE:DOV) by 9.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,556 shares of the industrial products company’s stock after selling 167 shares during the period. Wesbanco Bank Inc.’s holdings in Dover were worth $292,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Atomi Financial Group Inc. boosted its holdings in shares of Dover by 20.4% in the 4th quarter. Atomi Financial Group Inc. now owns 1,986 shares of the industrial products company’s stock valued at $373,000 after buying an additional 336 shares in the last quarter. Clear Harbor Asset Management LLC boosted its holdings in shares of Dover by 4.1% in the 4th quarter. Clear Harbor Asset Management LLC now owns 37,675 shares of the industrial products company’s stock valued at $7,068,000 after buying an additional 1,469 shares in the last quarter. Ballentine Partners LLC boosted its holdings in shares of Dover by 4.3% in the 4th quarter. Ballentine Partners LLC now owns 1,944 shares of the industrial products company’s stock valued at $365,000 after buying an additional 80 shares in the last quarter. Zhang Financial LLC boosted its holdings in shares of Dover by 15.7% in the 4th quarter. Zhang Financial LLC now owns 1,493 shares of the industrial products company’s stock valued at $280,000 after buying an additional 203 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Dover by 3.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,401 shares of the industrial products company’s stock valued at $450,000 after buying an additional 70 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Performance

DOV opened at $198.81 on Friday. Dover Co. has a 12-month low of $148.45 and a 12-month high of $208.26. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $27.27 billion, a PE ratio of 17.78, a P/E/G ratio of 2.04 and a beta of 1.23. The firm has a 50 day moving average of $195.67 and a two-hundred day moving average of $189.69.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Friday, November 29th. Dover’s dividend payout ratio is presently 18.43%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DOV. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. UBS Group started coverage on shares of Dover in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 target price for the company. The Goldman Sachs Group lifted their target price on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a research note on Monday, October 28th. Finally, Mizuho lifted their target price on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $212.55.

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.