Corient Private Wealth LLC Decreases Stock Holdings in Dover Co. (NYSE:DOV)

Corient Private Wealth LLC reduced its stake in shares of Dover Co. (NYSE:DOV) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,046,664 shares of the industrial products company’s stock after selling 6,916 shares during the quarter. Corient Private Wealth LLC’s holdings in Dover were worth $196,354,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp increased its position in Dover by 0.9% during the 3rd quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock valued at $1,191,531,000 after buying an additional 56,149 shares in the last quarter. Geode Capital Management LLC increased its position in Dover by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock valued at $616,945,000 after buying an additional 25,993 shares in the last quarter. FMR LLC increased its position in Dover by 5.1% during the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after buying an additional 149,378 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Dover by 1.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company’s stock valued at $188,815,000 after buying an additional 17,193 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Dover by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 828,103 shares of the industrial products company’s stock valued at $155,352,000 after buying an additional 16,763 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DOV has been the topic of several recent analyst reports. Barclays upped their target price on Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Wells Fargo & Company increased their price objective on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Citigroup cut their price objective on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Royal Bank of Canada increased their price objective on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Finally, StockNews.com raised Dover from a “hold” rating to a “buy” rating in a report on Monday, March 10th. Four 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $218.91.

Dover Stock Up 2.3 %

Dover stock opened at $181.15 on Friday. The firm has a market cap of $24.86 billion, a price-to-earnings ratio of 9.31, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. Dover Co. has a 52 week low of $168.20 and a 52 week high of $222.31. The business’s 50-day moving average price is $195.12 and its 200 day moving average price is $193.57. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.20 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%. As a group, sell-side analysts anticipate that Dover Co. will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.515 per share. The ex-dividend date was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a yield of 1.14%. Dover’s dividend payout ratio is currently 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.