D. E. Shaw & Co. Inc. cut its holdings in shares of Dover Co. (NYSE:DOV - Free Report) by 91.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,745 shares of the industrial products company's stock after selling 18,665 shares during the period. D. E. Shaw & Co. Inc.'s holdings in Dover were worth $327,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Financial Life Planners bought a new position in Dover during the 4th quarter worth approximately $28,000. R Squared Ltd purchased a new position in Dover during the 4th quarter worth $34,000. EverSource Wealth Advisors LLC boosted its holdings in Dover by 79.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company's stock worth $37,000 after acquiring an additional 87 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in Dover during the 4th quarter worth $46,000. Finally, Mainstream Capital Management LLC purchased a new position in shares of Dover in the 4th quarter worth about $61,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on DOV shares. Mizuho set a $215.00 price target on shares of Dover in a report on Friday, May 16th. Wells Fargo & Company boosted their price objective on Dover from $200.00 to $215.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. Wall Street Zen cut Dover from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Barclays boosted their price objective on Dover from $180.00 to $185.00 and gave the company an "equal weight" rating in a research note on Thursday, April 24th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $176.00 price objective on shares of Dover in a research note on Friday, April 25th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Dover has a consensus rating of "Moderate Buy" and a consensus target price of $207.75.
Get Our Latest Stock Report on DOV
Dover Price Performance
Shares of DOV stock traded down $1.98 during trading on Friday, hitting $177.70. The company had a trading volume of 1,483,831 shares, compared to its average volume of 969,760. 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 stock's 50-day moving average is $171.49 and its two-hundred day moving average is $186.92. The stock has a market capitalization of $24.36 billion, a price-to-earnings ratio of 9.14, a price-to-earnings-growth ratio of 2.06 and a beta of 1.28. Dover Co. has a 52 week low of $143.04 and a 52 week high of $222.31.
Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.88 billion. Dover had a net margin of 32.95% and a return on equity of 21.03%. Dover's revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.95 earnings per share. As a group, analysts predict that Dover Co. will post 9.45 EPS for the current fiscal year.
Dover Announces Dividend
The company 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 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Friday, May 30th. Dover's dividend payout ratio is currently 12.41%.
Dover Company Profile
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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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