Nuveen Asset Management LLC Sells 124,605 Shares of Dover Co. (NYSE:DOV)

Nuveen Asset Management LLC reduced its stake in shares of Dover Co. (NYSE:DOV - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,737,963 shares of the industrial products company's stock after selling 124,605 shares during the period. Nuveen Asset Management LLC owned 2.00% of Dover worth $513,642,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Financial Life Planners purchased a new position in shares of Dover during the 4th quarter valued at $28,000. R Squared Ltd bought a new position in Dover in the 4th quarter worth approximately $34,000. EverSource Wealth Advisors LLC grew 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 valued at $37,000 after buying an additional 87 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Dover during the fourth quarter valued at approximately $46,000. Finally, Mainstream Capital Management LLC bought a new position in shares of Dover during the fourth quarter worth $61,000. 84.46% of the stock is currently owned by institutional investors.

Dover Trading Up 1.2%

Dover stock traded up $2.29 during trading hours on Friday, hitting $186.64. The company had a trading volume of 656,131 shares, compared to its average volume of 969,510. The firm has a market cap of $25.59 billion, a P/E ratio of 9.60, a P/E/G ratio of 2.06 and a beta of 1.28. The company has a 50-day moving average price of $171.82 and a two-hundred day moving average price of $188.13. Dover Co. has a 1 year low of $143.04 and a 1 year high of $222.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04.

Dover (NYSE:DOV - Get Free Report) last issued its earnings results 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. Dover had a return on equity of 21.03% and a net margin of 32.95%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the company posted $1.95 EPS. Dover's revenue was down .9% on a year-over-year basis. On average, sell-side analysts anticipate that Dover Co. will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Friday, May 30th. Dover's payout ratio is 12.41%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DOV. Wells Fargo & Company lifted their price target on shares of Dover from $200.00 to $215.00 and gave the company an "equal weight" rating in a report on Friday, January 31st. UBS Group cut their price target on Dover from $217.00 to $211.00 and set a "neutral" rating for the company in a report on Friday, January 31st. Morgan Stanley assumed coverage on Dover in a report on Monday, April 14th. They set an "equal weight" rating and a $185.00 price objective on the stock. Barclays raised their target price on shares of Dover from $180.00 to $185.00 and gave the company an "equal weight" rating in a report on Thursday, April 24th. Finally, Robert W. Baird dropped their price objective on shares of Dover from $238.00 to $219.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $208.17.

Dover 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.