Man Group plc reduced its position in shares of Dover Co. (NYSE:DOV - Free Report) by 29.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,827 shares of the industrial products company's stock after selling 8,159 shares during the period. Man Group plc's holdings in Dover were worth $3,720,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC raised its holdings in Dover by 78.6% in the 4th quarter. Wolverine Asset Management LLC now owns 12,500 shares of the industrial products company's stock valued at $2,345,000 after acquiring an additional 5,500 shares in the last quarter. Westpac Banking Corp raised its holdings in Dover by 1,332.8% in the 4th quarter. Westpac Banking Corp now owns 24,486 shares of the industrial products company's stock valued at $4,594,000 after acquiring an additional 22,777 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Dover by 1.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 27,626 shares of the industrial products company's stock valued at $5,183,000 after acquiring an additional 444 shares in the last quarter. Bank of Montreal Can raised its holdings in Dover by 3.7% in the 4th quarter. Bank of Montreal Can now owns 154,311 shares of the industrial products company's stock valued at $28,949,000 after acquiring an additional 5,469 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Dover by 4.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 253,376 shares of the industrial products company's stock valued at $47,533,000 after acquiring an additional 11,592 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages have weighed in on DOV. Robert W. Baird dropped their price objective on Dover from $238.00 to $219.00 and set an "outperform" rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. boosted their price target on Dover from $190.00 to $211.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Wells Fargo & Company boosted their price target on Dover from $200.00 to $215.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. Citigroup lowered their price target on Dover from $244.00 to $201.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Barclays boosted their price target on Dover from $180.00 to $185.00 and gave the stock an "equal weight" rating in a report on Thursday, April 24th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $207.75.
View Our Latest Research Report on Dover
Dover Price Performance
DOV stock traded down $2.06 during midday trading on Friday, reaching $177.79. 1,170,165 shares of the stock were exchanged, compared to its average volume of 974,058. The stock has a market capitalization of $24.38 billion, a PE ratio of 9.14, a P/E/G 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. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The company has a fifty day moving average price of $171.88 and a 200 day moving average price of $187.74.
Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.99 by $0.06. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. Dover had a return on equity of 21.03% and a net margin of 32.95%. Dover's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.95 EPS. As a group, analysts expect that Dover Co. will post 9.45 EPS for the current fiscal 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 dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.16%. 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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