Dover Co. (NYSE:DOV) Stock Position Lessened by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in shares of Dover Co. (NYSE:DOV) by 4.0% during the 4th quarter, Holdings Channel reports. The firm owned 74,940 shares of the industrial products company’s stock after selling 3,083 shares during the period. Victory Capital Management Inc.’s holdings in Dover were worth $14,059,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of DOV. CWA Asset Management Group LLC acquired a new stake in Dover during the 3rd quarter worth about $239,000. Ashton Thomas Securities LLC acquired a new stake in shares of Dover during the third quarter valued at approximately $33,000. Wolverine Asset Management LLC purchased a new stake in shares of Dover in the 3rd quarter valued at approximately $1,342,000. Nations Financial Group Inc. IA ADV boosted its stake in Dover by 14.5% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,883 shares of the industrial products company’s stock worth $936,000 after purchasing an additional 619 shares during the period. Finally, Apollon Wealth Management LLC grew its position in Dover by 22.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 4,589 shares of the industrial products company’s stock worth $880,000 after purchasing an additional 827 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Up 0.6 %

Shares of DOV stock opened at $181.83 on Thursday. The company has a market capitalization of $24.95 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 2.06 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The stock’s 50 day simple moving average is $195.43 and its 200 day simple moving average is $193.63. Dover Co. has a twelve month low of $168.20 and a twelve month high of $222.31.

Dover (NYSE:DOV) last issued 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 net margin of 32.95% and a return on equity of 21.03%. As a group, research analysts predict that Dover Co. will post 9.45 EPS for the current year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s dividend payout ratio is currently 10.59%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. UBS Group lowered their price objective on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Citigroup decreased their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price target (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Finally, 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 report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and a consensus price target of $218.91.

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.