Price T Rowe Associates Inc. MD Decreases Stock Holdings in Dover Co. (NYSE:DOV)

Price T Rowe Associates Inc. MD trimmed its holdings in shares of Dover Co. (NYSE:DOV - Free Report) by 56.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,607,392 shares of the industrial products company's stock after selling 2,063,308 shares during the period. Price T Rowe Associates Inc. MD owned approximately 1.17% of Dover worth $301,547,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in DOV. Norges Bank bought a new position in Dover in the 4th quarter worth about $316,228,000. Amundi increased its position in shares of Dover by 42.3% during the fourth quarter. Amundi now owns 648,525 shares of the industrial products company's stock valued at $121,417,000 after acquiring an additional 192,908 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Dover in the 4th quarter worth approximately $30,741,000. Proficio Capital Partners LLC bought a new position in Dover in the 4th quarter valued at approximately $28,718,000. Finally, Bank of Nova Scotia increased its holdings in shares of Dover by 701.3% in the 4th quarter. Bank of Nova Scotia now owns 140,918 shares of the industrial products company's stock worth $26,436,000 after purchasing an additional 123,331 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Price Performance

Shares of DOV stock traded down $0.28 during mid-day trading on Thursday, hitting $170.38. The company had a trading volume of 276,092 shares, compared to its average volume of 970,439. The company has a market capitalization of $23.35 billion, a P/E ratio of 8.76, a P/E/G ratio of 2.06 and a beta of 1.24. The stock's 50 day moving average price is $174.89 and its 200-day moving average price is $189.30. 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.

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 (EPS) 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 for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the business posted $1.95 earnings per share. The company's quarterly revenue was down .9% compared to the same quarter last year. Equities research analysts forecast that Dover Co. will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend was Friday, February 28th. Dover's payout ratio is 12.41%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DOV. JPMorgan Chase & Co. reduced their price objective on Dover from $230.00 to $189.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada restated a "sector perform" rating and set a $176.00 price objective on shares of Dover in a research report on Friday, April 25th. StockNews.com cut shares of Dover from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Citigroup lowered their price target on Dover from $244.00 to $201.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Robert W. Baird reduced their price objective on Dover from $238.00 to $219.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $206.33.

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.