Cullen Frost Bankers Inc. Has $2.46 Million Position in Dover Co. (NYSE:DOV)

Cullen Frost Bankers Inc. cut its holdings in shares of Dover Co. (NYSE:DOV) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,103 shares of the industrial products company’s stock after selling 270 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Dover were worth $2,458,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Financial Life Planners acquired a new position in Dover in the 4th quarter valued at $28,000. Ashton Thomas Securities LLC acquired a new position in Dover in the 3rd quarter valued at $33,000. R Squared Ltd acquired a new position in Dover in the 4th quarter valued at $34,000. Kieckhefer Group LLC acquired a new position in Dover in the 4th quarter valued at $38,000. Finally, Golden State Wealth Management LLC acquired a new position in Dover in the 4th quarter valued at $46,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Price Performance

Shares of DOV stock opened at $185.46 on Friday. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Dover Co. has a twelve month low of $168.20 and a twelve month high of $222.31. The company has a market cap of $25.45 billion, a P/E ratio of 9.54, a P/E/G ratio of 2.06 and a beta of 1.24. The business has a fifty day simple moving average of $195.90 and a 200 day simple moving average of $193.56.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. On average, sell-side analysts forecast that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.515 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $2.06 annualized dividend and a yield of 1.11%. Dover’s dividend payout ratio is presently 10.59%.

Wall Street Analyst Weigh In

A number of brokerages have commented on DOV. The Goldman Sachs Group upped their price objective on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Royal Bank of Canada upped their price objective on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. UBS Group reduced their target price on Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Oppenheimer reissued an “outperform” rating and set a $225.00 target price (up from $220.00) on shares of Dover in a report on Friday, January 31st. Finally, Citigroup reduced their target price on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.91.

About Dover

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.