Bank of America Corp DE Trims Stock Holdings in Dover Co. (NYSE:DOV)

Bank of America Corp DE lessened its stake in shares of Dover Co. (NYSE:DOV - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,072,433 shares of the industrial products company's stock after selling 181,505 shares during the quarter. Bank of America Corp DE owned 2.24% of Dover worth $576,388,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Ecofi Investissements SA increased its holdings in Dover by 1.1% in the 4th quarter. Ecofi Investissements SA now owns 4,400 shares of the industrial products company's stock valued at $765,000 after purchasing an additional 50 shares during the last quarter. Spire Wealth Management grew its stake in shares of Dover by 2.1% in the fourth 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 holdings in shares of Dover by 5.4% in the 4th quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company's stock valued at $214,000 after buying an additional 58 shares during the period. Trust Point Inc. lifted its stake in Dover by 3.1% during the 4th quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company's stock worth $367,000 after acquiring an additional 59 shares in the last quarter. Finally, JGP Wealth Management LLC boosted its holdings in Dover by 0.8% during the 4th quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company's stock valued at $1,515,000 after acquiring an additional 62 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DOV has been the topic of several recent research reports. Citigroup cut their target price on shares of Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Morgan Stanley initiated coverage on shares of Dover in a research note on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price target for the company. Wells Fargo & Company raised their price objective on shares of Dover from $200.00 to $215.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. UBS Group lowered their target price on shares of Dover from $217.00 to $211.00 and set a "neutral" rating for the company in a research note on Friday, January 31st. Finally, Oppenheimer restated 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. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $206.33.

Dover Price Performance

DOV stock opened at $172.97 on Tuesday. Dover Co. has a twelve month low of $143.04 and a twelve month high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $23.71 billion, a P/E ratio of 8.89, a PEG ratio of 2.06 and a beta of 1.24. The business has a 50 day simple moving average of $173.32 and a 200-day simple moving average of $188.80.

Dover (NYSE:DOV - Get Free Report) last announced its earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.06. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. Dover had a net margin of 32.95% and a return on equity of 21.03%. The business's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.95 earnings per share. As a group, equities analysts anticipate that Dover Co. will post 9.45 EPS for the current year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a $0.515 dividend. The ex-dividend date is Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.19%. Dover's dividend payout ratio (DPR) is 12.41%.

Dover Profile

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.

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