Hsbc Holdings PLC Reduces Stock Position in Dover Co. (NYSE:DOV)

Hsbc Holdings PLC reduced its position in shares of Dover Co. (NYSE:DOV - Free Report) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 345,167 shares of the industrial products company's stock after selling 18,104 shares during the period. Hsbc Holdings PLC owned about 0.25% of Dover worth $64,682,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Stifel Financial Corp increased its stake in shares of Dover by 3.8% during the fourth quarter. Stifel Financial Corp now owns 65,046 shares of the industrial products company's stock worth $12,203,000 after buying an additional 2,375 shares during the period. TD Waterhouse Canada Inc. increased its position in shares of Dover by 57.1% in the 4th quarter. TD Waterhouse Canada Inc. now owns 7,778 shares of the industrial products company's stock valued at $1,460,000 after purchasing an additional 2,827 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Dover by 124.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,054 shares of the industrial products company's stock valued at $2,449,000 after purchasing an additional 7,231 shares in the last quarter. MML Investors Services LLC lifted its position in shares of Dover by 37.4% during the 4th quarter. MML Investors Services LLC now owns 23,013 shares of the industrial products company's stock worth $4,317,000 after purchasing an additional 6,260 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Dover by 1.6% during the fourth quarter. MetLife Investment Management LLC now owns 36,309 shares of the industrial products company's stock worth $6,812,000 after purchasing an additional 574 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Performance

Shares of NYSE:DOV traded down $0.85 during midday trading on Wednesday, hitting $169.37. The stock had a trading volume of 189,869 shares, compared to its average volume of 971,946. Dover Co. has a 1 year low of $143.04 and a 1 year high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average price of $175.48 and a two-hundred day moving average price of $189.43. The company has a market capitalization of $23.21 billion, a PE ratio of 8.70, a P/E/G ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.99 by $0.06. The company 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%. The firm's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.95 EPS. As a group, equities analysts predict that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Friday, February 28th. Dover's dividend payout ratio (DPR) is currently 12.41%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. StockNews.com cut shares of Dover from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Morgan Stanley began coverage on shares of Dover in a research report on Monday, April 14th. They issued an "equal weight" rating and a $185.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on Dover from $230.00 to $189.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $176.00 price objective on shares of Dover in a research note on Friday. Finally, Citigroup reduced their price target on shares of Dover from $244.00 to $201.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Dover currently has a consensus rating of "Moderate Buy" and an average price target 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.