JPMorgan Chase & Co. Trims Holdings in Dover Co. (NYSE:DOV)

JPMorgan Chase & Co. lowered its position in shares of Dover Co. (NYSE:DOV) by 7.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,588,281 shares of the industrial products company’s stock after selling 796,414 shares during the quarter. JPMorgan Chase & Co. owned 6.99% of Dover worth $1,798,762,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DOV. 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 shares of Dover in the fourth quarter worth about $34,000. EverSource Wealth Advisors LLC boosted its stake in shares of Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 87 shares during the period. Kieckhefer Group LLC bought a new stake in Dover during the 4th quarter valued at approximately $38,000. Finally, Golden State Wealth Management LLC purchased a new position in Dover in the 4th quarter worth approximately $46,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Performance

NYSE DOV opened at $179.16 on Friday. The company has a market cap of $24.56 billion, a P/E ratio of 9.21, a P/E/G ratio of 2.06 and a beta of 1.24. The business’s 50 day moving average price is $194.03 and its 200-day moving average price is $193.59. Dover Co. has a fifty-two week low of $168.20 and a fifty-two week 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) last announced its earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. Sell-side analysts predict that Dover Co. will post 9.45 earnings per share for the current 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 given a dividend of $0.515 per share. The ex-dividend date was Friday, February 28th. This represents a $2.06 annualized dividend and a dividend yield of 1.15%. Dover’s dividend payout ratio (DPR) is presently 10.59%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DOV shares. Royal Bank of Canada lifted their price objective on shares of Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. Oppenheimer reiterated an “outperform” rating and issued a $225.00 price target (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. Wells Fargo & Company raised their price objective on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research 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. Finally, Citigroup cut their price target on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $218.18.

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.