Dover Co. (NYSE:DOV) Shares Sold by Wealth Alliance

Wealth Alliance cut its holdings in Dover Co. (NYSE:DOV) by 3.3% in the 4th quarter, HoldingsChannel reports. The fund owned 3,545 shares of the industrial products company’s stock after selling 121 shares during the period. Wealth Alliance’s holdings in Dover were worth $665,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Financial Life Planners acquired a new position in Dover in the 4th quarter valued at $28,000. Ashton Thomas Securities LLC acquired a new position in Dover in the 3rd quarter valued at $33,000. R Squared Ltd acquired a new position in Dover in the 4th quarter valued at $34,000. Kieckhefer Group LLC acquired a new position in Dover in the 4th quarter valued at $38,000. Finally, Golden State Wealth Management LLC acquired a new position in Dover in the 4th quarter valued at $46,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DOV. Citigroup cut their price target on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a report on Monday, January 13th. Wells Fargo & Company boosted their price objective on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Oppenheimer reissued an “outperform” rating and set a $225.00 price objective (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Royal Bank of Canada boosted their price objective on shares of Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. Finally, Wolfe Research raised shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $218.91.

Dover Stock Performance

Shares of Dover stock opened at $206.56 on Friday. The firm has a market cap of $28.35 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 2.04 and a beta of 1.24. The firm’s 50-day simple moving average is $195.53 and its 200-day simple moving average is $192.28. 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 Co. has a 1 year low of $159.58 and a 1 year high of $222.31.

Dover (NYSE:DOV) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. Equities analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a $0.515 dividend. The ex-dividend date is Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.00%. Dover’s dividend payout ratio (DPR) is presently 10.59%.

About Dover

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.