Dover Co. (NYSE:DOV) Shares Sold by Earnest Partners LLC

Earnest Partners LLC decreased its holdings in Dover Co. (NYSE:DOV - Free Report) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 419,396 shares of the industrial products company's stock after selling 3,783 shares during the period. Earnest Partners LLC owned about 0.31% of Dover worth $78,679,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in DOV. Financial Life Planners acquired a new stake in shares of Dover during the 4th quarter worth approximately $28,000. R Squared Ltd acquired a new position in shares of Dover during the fourth quarter worth $34,000. EverSource Wealth Advisors LLC increased its holdings in Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 87 shares during the period. Kieckhefer Group LLC bought a new stake in shares of Dover in the 4th quarter valued at about $38,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Dover in the fourth quarter worth approximately $46,000. 84.46% of the stock is currently owned by institutional investors.

Dover Trading Up 2.3 %

Shares of NYSE DOV traded up $3.93 during midday trading on Friday, hitting $173.74. 1,408,382 shares of the company traded hands, compared to its average volume of 971,301. 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 market cap of $23.82 billion, a P/E ratio of 8.93, a P/E/G ratio of 2.06 and a beta of 1.24. The stock has a 50-day moving average price of $174.30 and a 200 day moving average price of $189.14. Dover Co. has a 12-month low of $143.04 and a 12-month high of $222.31.

Dover (NYSE:DOV - Get Free Report) last announced 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 firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the company posted $1.95 earnings per share. The company's quarterly revenue was down .9% on a year-over-year basis. As a group, analysts expect that Dover Co. will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.19%. Dover's dividend payout ratio is currently 12.41%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Oppenheimer reaffirmed an "outperform" rating and issued a $225.00 price objective (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Barclays raised their target price on Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 24th. Morgan Stanley began coverage on Dover in a research note on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price target on the stock. Royal Bank of Canada reissued a "sector perform" rating and set a $176.00 target price on shares of Dover in a research note on Friday, April 25th. Finally, UBS Group reduced their target price on Dover from $217.00 to $211.00 and set a "neutral" rating for the company in a research note on Friday, January 31st. Six 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 a consensus target price of $206.33.

Dover Company 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.