Marshall Wace LLP cut its position in Dover Co. (NYSE:DOV - Free Report) by 99.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,518 shares of the industrial products company's stock after selling 359,630 shares during the quarter. Marshall Wace LLP's holdings in Dover were worth $472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Dover by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company's stock worth $3,045,772,000 after purchasing an additional 57,453 shares in the last quarter. Geode Capital Management LLC grew its position in Dover by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company's stock worth $618,068,000 after acquiring an additional 74,541 shares during the last quarter. FMR LLC lifted its position in Dover by 1.1% in the fourth quarter. FMR LLC now owns 3,118,391 shares of the industrial products company's stock valued at $585,010,000 after purchasing an additional 32,565 shares during the last quarter. Norges Bank purchased a new stake in shares of Dover during the fourth quarter valued at approximately $316,228,000. Finally, Invesco Ltd. increased its stake in shares of Dover by 10.8% in the fourth quarter. Invesco Ltd. now owns 1,179,207 shares of the industrial products company's stock worth $221,219,000 after buying an additional 114,719 shares during the period. Hedge funds and other institutional investors own 84.46% of the company's stock.
Wall Street Analysts Forecast Growth
DOV has been the subject of a number of analyst reports. Wells Fargo & Company increased their target price on shares of Dover from $200.00 to $215.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. JPMorgan Chase & Co. reduced their price objective on Dover from $230.00 to $189.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. StockNews.com downgraded Dover from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Barclays lifted their price target on Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 24th. Finally, Morgan Stanley initiated coverage on shares of Dover in a research report on Monday, April 14th. They set an "equal weight" rating and a $185.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $206.33.
Check Out Our Latest Research Report on DOV
Dover Stock Performance
Shares of NYSE DOV traded down $0.90 during midday trading on Monday, hitting $172.97. 721,920 shares of the stock traded hands, compared to its average volume of 969,295. The firm 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. Dover Co. has a one year low of $143.04 and a one year high of $222.31. 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 firm has a 50-day moving average of $173.32 and a two-hundred day moving average of $188.80.
Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.99 by $0.06. Dover had a return on equity of 21.03% and a net margin of 32.95%. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the company posted $1.95 EPS. The business's quarterly revenue was down .9% compared to the same quarter last year. On average, equities analysts forecast that Dover Co. will post 9.45 EPS for the current fiscal year.
Dover Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, May 30th. Dover's dividend payout ratio is presently 12.41%.
About Dover
(
Free Report)
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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