Portfolio Design Labs LLC Sells 318 Shares of Dover Co. (NYSE:DOV)

Portfolio Design Labs LLC lowered its position in shares of Dover Co. (NYSE:DOV) by 9.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,942 shares of the industrial products company’s stock after selling 318 shares during the quarter. Portfolio Design Labs LLC’s holdings in Dover were worth $552,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in DOV. Financial Life Planners acquired a new position in Dover in the 4th quarter valued at $28,000. Ashton Thomas Securities LLC bought a new stake in shares of Dover in the third quarter valued at about $33,000. R Squared Ltd acquired a new position in shares of Dover in the fourth quarter valued at about $34,000. Kieckhefer Group LLC bought a new position in Dover during the fourth quarter worth about $38,000. Finally, Golden State Wealth Management LLC acquired a new stake in Dover in the 4th quarter worth about $46,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Citigroup decreased their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company increased their price target on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, January 31st. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Finally, Barclays raised their price target on Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Price Performance

Shares of DOV stock opened at $202.59 on Wednesday. The business has a fifty day simple moving average of $195.26 and a 200 day simple moving average of $191.36. The company has a market cap of $27.79 billion, a P/E ratio of 10.42, a P/E/G ratio of 2.03 and a beta of 1.24. 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 $158.29 and a twelve month high of $222.31.

Dover (NYSE:DOV) last posted its earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, sell-side analysts forecast that Dover Co. will post 9.47 EPS for the current fiscal year.

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.