Empirical Finance LLC Cuts Stake in Dover Co. (NYSE:DOV)

Empirical Finance LLC trimmed its stake in Dover Co. (NYSE:DOV) by 1.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,812 shares of the industrial products company’s stock after selling 52 shares during the quarter. Empirical Finance LLC’s holdings in Dover were worth $903,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. FMR LLC grew its stake in shares of Dover by 5.1% during the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after buying an additional 149,378 shares during the period. National Bank of Canada FI grew its position in Dover by 313.7% during the third quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company’s stock valued at $36,647,000 after acquiring an additional 144,930 shares during the period. Barclays PLC increased its stake in Dover by 26.6% during the third quarter. Barclays PLC now owns 360,291 shares of the industrial products company’s stock worth $69,082,000 after acquiring an additional 75,670 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Dover in the 3rd quarter worth about $14,459,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Dover by 195.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock valued at $17,077,000 after purchasing an additional 60,235 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Price Performance

DOV stock opened at $203.70 on Tuesday. Dover Co. has a 52-week low of $158.29 and a 52-week 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 company has a market capitalization of $27.95 billion, a PE ratio of 10.47, a P/E/G ratio of 2.03 and a beta of 1.24. The stock’s 50 day moving average is $195.28 and its two-hundred day moving average is $191.23.

Dover (NYSE:DOV) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. Analysts predict that Dover Co. will post 9.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on DOV. Wells Fargo & Company raised 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. Mizuho lifted their target price on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Royal Bank of Canada boosted their price objective on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $225.00 target price (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Dover presently has an average rating of “Moderate Buy” and a consensus price target of $218.91.

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.