Dover Co. (NYSE:DOV) Shares Sold by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. trimmed its holdings in shares of Dover Co. (NYSE:DOV) by 20.6% in the fourth quarter, Holdings Channel reports. The firm owned 1,808 shares of the industrial products company’s stock after selling 469 shares during the period. T. Rowe Price Investment Management Inc.’s holdings in Dover were worth $340,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in shares of Dover in the fourth quarter worth about $28,000. R Squared Ltd purchased a new position in Dover in the 4th quarter worth approximately $34,000. EverSource Wealth Advisors LLC grew its position in Dover by 79.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 87 shares in the last quarter. Kieckhefer Group LLC purchased a new stake in shares of Dover during the fourth quarter valued at approximately $38,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Dover in the fourth quarter valued at $46,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DOV has been the topic of several analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Dover in a research note on Friday. Barclays boosted their price target on Dover from $180.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday. Morgan Stanley assumed coverage on Dover in a report on Monday, April 14th. They set an “equal weight” rating and a $185.00 price objective on the stock. Oppenheimer reiterated 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. Finally, Robert W. Baird cut their price target on shares of Dover from $238.00 to $219.00 and set an “outperform” rating on the stock in a report on Friday. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $209.50.

Dover Price Performance

DOV opened at $169.18 on Monday. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $176.90 and its 200 day moving average price is $189.71. Dover Co. has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The firm has a market cap of $23.19 billion, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.06. Dover had a return on equity of 21.03% and a net margin of 32.95%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. As a group, sell-side analysts expect that Dover Co. will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s payout ratio is 12.41%.

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.