Gardner Russo & Quinn LLC Has $4.21 Million Position in Dover Co. (NYSE:DOV)

Gardner Russo & Quinn LLC decreased its stake in Dover Co. (NYSE:DOV) by 2.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 22,451 shares of the industrial products company’s stock after selling 650 shares during the period. Dover makes up 0.0% of Gardner Russo & Quinn LLC’s investment portfolio, making the stock its 28th biggest position. Gardner Russo & Quinn LLC’s holdings in Dover were worth $4,212,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in DOV. Spire Wealth Management boosted its position in Dover by 2.1% during the fourth quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock valued at $464,000 after acquiring an additional 52 shares during the last quarter. ORG Partners LLC boosted its position in shares of Dover by 5.4% during the 4th quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock valued at $214,000 after purchasing an additional 58 shares in the last quarter. Trust Point Inc. grew its stake in Dover by 3.1% during the fourth quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 59 shares during the period. JGP Wealth Management LLC increased its holdings in Dover by 0.8% in the fourth quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company’s stock worth $1,515,000 after purchasing an additional 62 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Dover by 3.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,401 shares of the industrial products company’s stock valued at $450,000 after buying an additional 70 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Dover Price Performance

Shares of NYSE:DOV opened at $174.63 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The stock has a market cap of $23.94 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The stock’s fifty day simple moving average is $193.63 and its two-hundred day simple moving average is $193.56. Dover Co. has a 1-year low of $168.20 and a 1-year high of $222.31.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. As a group, analysts forecast that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Friday, February 28th. Dover’s dividend payout ratio is presently 10.59%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Wednesday. Royal Bank of Canada boosted their target price on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. Citigroup reduced their price objective on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, The Goldman Sachs Group boosted their price objective on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and a consensus target price of $218.18.

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.