Dover Co. (NYSE:DOV) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in Dover Co. (NYSE:DOV) by 0.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 186,229 shares of the industrial products company’s stock after selling 380 shares during the period. PNC Financial Services Group Inc. owned about 0.14% of Dover worth $34,937,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC grew its position in Dover by 39.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 686 shares of the industrial products company’s stock valued at $132,000 after acquiring an additional 195 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in Dover by 89.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 16,346 shares of the industrial products company’s stock valued at $3,134,000 after acquiring an additional 7,704 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Dover by 3.1% in the third quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock valued at $34,100,000 after purchasing an additional 5,372 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Dover in the third quarter valued at approximately $239,000. Finally, Assetmark Inc. grew its holdings in shares of Dover by 5.0% in the third quarter. Assetmark Inc. now owns 51,611 shares of the industrial products company’s stock valued at $9,896,000 after purchasing an additional 2,436 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on DOV shares. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Oppenheimer reissued an “outperform” rating and set a $225.00 target price (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Citigroup lowered their price objective on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research report on Monday, January 13th. UBS Group lowered their price target on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Finally, Barclays boosted their price target on shares of Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $218.91.

Dover Stock Performance

NYSE DOV opened at $185.46 on Monday. 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 Co. has a 1 year low of $168.20 and a 1 year high of $222.31. The company has a market capitalization of $25.45 billion, a PE ratio of 9.54, a P/E/G ratio of 2.06 and a beta of 1.24. The company has a fifty day moving average of $195.85 and a two-hundred day moving average of $193.76.

Dover (NYSE:DOV) last announced 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 return on equity of 21.03% and a net margin of 32.95%. As a group, analysts expect that Dover Co. will post 9.45 earnings per share for the current year.

Dover Announces Dividend

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

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.