Prudential Financial Inc. Sells 8,733 Shares of Dover Co. (NYSE:DOV)

Prudential Financial Inc. trimmed its holdings in shares of Dover Co. (NYSE:DOV) by 9.3% in the 4th quarter, Holdings Channel reports. The firm owned 85,046 shares of the industrial products company’s stock after selling 8,733 shares during the quarter. Prudential Financial Inc.’s holdings in Dover were worth $15,955,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in DOV. Spire Wealth Management lifted its holdings in Dover by 2.1% during the 4th quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock valued at $464,000 after buying an additional 52 shares in the last quarter. ORG Partners LLC raised its stake in shares of Dover by 5.4% during the fourth quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock valued at $214,000 after acquiring an additional 58 shares in the last quarter. Trust Point Inc. boosted its holdings in shares of Dover by 3.1% in the fourth quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 59 shares during the period. JGP Wealth Management LLC grew its stake in Dover by 0.8% in the fourth quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company’s stock worth $1,515,000 after purchasing an additional 62 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Dover by 3.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,401 shares of the industrial products company’s stock worth $450,000 after purchasing an additional 70 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Price Performance

Shares of DOV opened at $179.16 on Friday. The company has a 50 day moving average of $194.03 and a two-hundred day moving average of $193.59. 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 Co. has a twelve month low of $168.20 and a twelve month high of $222.31. The company has a market cap of $24.56 billion, a price-to-earnings ratio of 9.21, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. As a group, analysts predict that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s payout ratio is currently 10.59%.

Wall Street Analyst Weigh In

DOV has been the subject of several research reports. Wells Fargo & Company upped their target price on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Citigroup dropped their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a research report on Wednesday. The Goldman Sachs Group upped their price target on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Oppenheimer reissued an “outperform” rating and set a $225.00 price objective (up from $220.00) on shares of Dover in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $218.18.

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.