USS Investment Management Ltd Trims Position in Dover Co. (NYSE:DOV)

USS Investment Management Ltd decreased its holdings in Dover Co. (NYSE:DOV - Free Report) by 29.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,720 shares of the industrial products company's stock after selling 10,931 shares during the quarter. USS Investment Management Ltd's holdings in Dover were worth $5,017,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in DOV. Vanguard Group Inc. boosted its stake in shares of Dover by 0.4% during 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 acquiring an additional 57,453 shares during the last quarter. Geode Capital Management LLC lifted its position in Dover by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company's stock valued at $618,068,000 after purchasing an additional 74,541 shares in the last quarter. FMR LLC grew its holdings in Dover by 1.1% during 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 period. Adage Capital Partners GP L.L.C. increased its position in Dover by 31.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company's stock worth $409,530,000 after buying an additional 524,092 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Dover by 16.6% in the fourth quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company's stock worth $323,896,000 after buying an additional 245,535 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Dover Price Performance

Dover stock traded down $2.06 during mid-day trading on Monday, reaching $177.79. 1,170,165 shares of the company's stock traded hands, compared to its average volume of 974,058. Dover Co. has a 12-month low of $143.04 and a 12-month high of $222.31. 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 has a 50 day moving average of $171.88 and a two-hundred day moving average of $187.65. The company has a market cap of $24.38 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 2.06 and a beta of 1.28.

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 (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.06. The firm 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%. The business's revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.95 EPS. Equities analysts forecast 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. Stockholders of record on Friday, May 30th will be given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, May 30th. Dover's dividend payout ratio is currently 12.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Robert W. Baird decreased their target price on shares of Dover from $238.00 to $219.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Wells Fargo & Company upped 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. Morgan Stanley began coverage on Dover in a report on Monday, April 14th. They set an "equal weight" rating and a $185.00 price target on the stock. UBS Group dropped their price objective on Dover from $217.00 to $211.00 and set a "neutral" rating for the company in a research note on Friday, January 31st. Finally, Mizuho set a $215.00 target price on Dover in a research note on Friday, May 16th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Dover presently has a consensus rating of "Moderate Buy" and an average price target of $207.75.

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.