Dover Co. (NYSE:DOV) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its stake in Dover Co. (NYSE:DOV) by 22.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 196,776 shares of the industrial products company’s stock after selling 56,764 shares during the quarter. Ameriprise Financial Inc. owned about 0.14% of Dover worth $36,915,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Barclays PLC grew its holdings in Dover by 26.6% in the 3rd quarter. Barclays PLC now owns 360,291 shares of the industrial products company’s stock valued at $69,082,000 after buying an additional 75,670 shares during the period. Principal Financial Group Inc. raised its stake in shares of Dover by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock worth $34,100,000 after purchasing an additional 5,372 shares in the last quarter. Czech National Bank grew its holdings in Dover by 6.2% in the 4th quarter. Czech National Bank now owns 29,746 shares of the industrial products company’s stock valued at $5,580,000 after buying an additional 1,745 shares during the last quarter. Kieckhefer Group LLC bought a new position in shares of Dover during the 4th quarter worth approximately $38,000. Finally, Thomasville National Bank raised its position in shares of Dover by 46.7% during the fourth quarter. Thomasville National Bank now owns 2,727 shares of the industrial products company’s stock worth $512,000 after acquiring an additional 868 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Trading Up 4.1%

Shares of NYSE DOV opened at $183.36 on Tuesday. The business has a fifty day moving average price of $171.60 and a 200 day moving average price of $188.30. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The stock has a market capitalization of $25.14 billion, a P/E ratio of 9.43, a price-to-earnings-growth ratio of 2.06 and a beta of 1.28. Dover Co. has a 1-year low of $143.04 and a 1-year high of $222.31.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.99 by $0.06. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. Dover had a return on equity of 21.03% and a net margin of 32.95%. The firm’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.95 EPS. Equities research analysts expect that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Friday, May 30th. Dover’s dividend payout ratio is presently 12.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DOV shares. Robert W. Baird lowered their price objective on Dover from $238.00 to $219.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. JPMorgan Chase & Co. dropped their price objective on Dover from $230.00 to $189.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $176.00 price objective on shares of Dover in a research report on Friday, April 25th. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Finally, UBS Group cut their price objective on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.33.

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.