Mission Wealth Management LP Decreases Stake in Dover Co. (NYSE:DOV)

Mission Wealth Management LP cut its position in Dover Co. (NYSE:DOV) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,417 shares of the industrial products company’s stock after selling 362 shares during the period. Mission Wealth Management LP’s holdings in Dover were worth $1,391,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Financial Life Planners purchased a new position in shares of Dover in the 4th quarter valued at about $28,000. Ashton Thomas Securities LLC purchased a new position in Dover in the third quarter valued at approximately $33,000. R Squared Ltd acquired a new stake in Dover during the fourth quarter worth approximately $34,000. Kieckhefer Group LLC acquired a new stake in Dover during the fourth quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Dover during the 4th quarter worth approximately $46,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on DOV shares. UBS Group cut their price target on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. upped their target price on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Barclays lifted 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. Finally, The Goldman Sachs Group increased their price objective on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $218.91.

Dover Stock Down 2.9 %

Shares of NYSE:DOV opened at $192.99 on Tuesday. Dover Co. has a fifty-two week low of $166.20 and a fifty-two week high of $222.31. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm’s 50-day simple moving average is $196.14 and its 200-day simple moving average is $193.61. The company has a market cap of $26.48 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 2.06 and a beta of 1.24.

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

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s payout ratio is 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.