Estabrook Capital Management Sells 140 Shares of Dover Co. (NYSE:DOV)

Estabrook Capital Management cut its holdings in shares of Dover Co. (NYSE:DOV) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,577 shares of the industrial products company’s stock after selling 140 shares during the period. Estabrook Capital Management’s holdings in Dover were worth $3,860,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in shares of Dover in the fourth quarter worth approximately $30,741,000. Advisory Services Network LLC grew its position in Dover by 40.8% in the 4th quarter. Advisory Services Network LLC now owns 2,293 shares of the industrial products company’s stock worth $430,000 after purchasing an additional 665 shares during the period. Renaissance Technologies LLC raised its stake in Dover by 11.1% during the 4th quarter. Renaissance Technologies LLC now owns 126,500 shares of the industrial products company’s stock valued at $23,731,000 after buying an additional 12,600 shares during the last quarter. Bank of Nova Scotia lifted its holdings in shares of Dover by 701.3% during the 4th quarter. Bank of Nova Scotia now owns 140,918 shares of the industrial products company’s stock valued at $26,436,000 after buying an additional 123,331 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Dover by 10.8% in the 4th quarter. Invesco Ltd. now owns 1,179,207 shares of the industrial products company’s stock worth $221,219,000 after buying an additional 114,719 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Dover Price Performance

Shares of Dover stock opened at $150.58 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. Dover Co. has a 12 month low of $143.04 and a 12 month high of $222.31. The stock has a 50 day moving average of $188.01 and a 200 day moving average of $192.27. The firm has a market cap of $20.64 billion, a PE ratio of 7.74, a PEG ratio of 2.06 and a beta of 1.24.

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

Dover Dividend Announcement

The company also recently disclosed 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. This represents a $2.06 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s dividend payout ratio (DPR) is 10.59%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DOV. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Citigroup lowered their target price on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Oppenheimer restated an “outperform” rating and issued a $225.00 price target (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Royal Bank of Canada boosted their price objective on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company raised their target price on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $214.45.

Dover 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.