North Point Portfolio Managers Corp OH Lowers Position in Dover Co. (NYSE:DOV)

North Point Portfolio Managers Corp OH cut its stake in shares of Dover Co. (NYSE:DOV) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,486 shares of the industrial products company’s stock after selling 2,183 shares during the quarter. Dover makes up approximately 2.2% of North Point Portfolio Managers Corp OH’s holdings, making the stock its 19th biggest position. North Point Portfolio Managers Corp OH’s holdings in Dover were worth $12,848,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in shares of Dover during the 2nd quarter valued at approximately $2,995,000. Public Sector Pension Investment Board grew its position in Dover by 71.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 5,259 shares of the industrial products company’s stock valued at $949,000 after acquiring an additional 2,191 shares during the last quarter. AQR Capital Management LLC boosted its position in Dover by 12.0% in the 2nd quarter. AQR Capital Management LLC now owns 48,379 shares of the industrial products company’s stock valued at $8,730,000 after buying an additional 5,194 shares during the period. MBB Public Markets I LLC purchased a new position in Dover during the 2nd quarter worth $1,786,000. Finally, Ascent Group LLC grew its holdings in Dover by 11.5% during the 2nd quarter. Ascent Group LLC now owns 11,393 shares of the industrial products company’s stock worth $2,056,000 after acquiring an additional 1,174 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DOV shares. UBS Group initiated coverage on Dover in a research report on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 price target for the company. Citigroup lowered their price target on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. The Goldman Sachs Group increased their target price on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Mizuho lifted their price target on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $212.55.

Dover Trading Down 0.2 %

Shares of NYSE:DOV opened at $198.81 on Monday. The business has a 50-day moving average price of $195.67 and a 200-day moving average price of $189.87. The stock has a market cap of $27.27 billion, a price-to-earnings ratio of 17.78, a PEG ratio of 2.04 and a beta of 1.23. Dover Co. has a 52-week low of $148.45 and a 52-week high of $208.26. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, November 29th. Dover’s dividend payout ratio (DPR) is currently 18.43%.

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.