Dover Co. (NYSE:DOV) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group lessened its stake in Dover Co. (NYSE:DOV) by 34.6% in the 4th quarter, Holdings Channel reports. The firm owned 136,550 shares of the industrial products company’s stock after selling 72,199 shares during the period. Schroder Investment Management Group’s holdings in Dover were worth $25,442,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allianz SE purchased a new stake in shares of Dover in the 4th quarter valued at $1,726,000. Allstate Corp acquired a new position in Dover in the 4th quarter valued at about $791,000. Brown Brothers Harriman & Co. increased its stake in Dover by 99.0% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,242 shares of the industrial products company’s stock worth $233,000 after purchasing an additional 618 shares during the period. Orion Portfolio Solutions LLC lifted its position in shares of Dover by 25.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 13,731 shares of the industrial products company’s stock worth $2,576,000 after purchasing an additional 2,753 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Dover by 6.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 86,901 shares of the industrial products company’s stock valued at $16,303,000 after purchasing an additional 5,224 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Price Performance

Shares of NYSE:DOV opened at $179.23 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. Dover Co. has a 12 month low of $168.20 and a 12 month high of $222.31. The firm has a market capitalization of $24.57 billion, a P/E ratio of 9.21, a P/E/G ratio of 2.06 and a beta of 1.24. The company’s fifty day moving average price is $192.41 and its 200 day moving average price is $193.48.

Dover (NYSE:DOV) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting 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 predict that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.515 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.15%. Dover’s payout ratio is 10.59%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. JPMorgan Chase & Co. lifted their target price on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, January 31st. The Goldman Sachs Group boosted their target price on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Royal Bank of Canada lifted their price objective on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. Finally, Oppenheimer restated an “outperform” rating and set a $225.00 target price (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.