Summit Investment Advisors Inc. Lowers Holdings in Dover Co. (NYSE:DOV)

Summit Investment Advisors Inc. cut its stake in shares of Dover Co. (NYSE:DOV) by 13.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 8,122 shares of the industrial products company’s stock after selling 1,253 shares during the period. Summit Investment Advisors Inc.’s holdings in Dover were worth $1,524,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Financial Life Planners purchased a new stake in shares of Dover during the fourth quarter valued at approximately $28,000. R Squared Ltd bought a new position in shares of Dover during the fourth quarter valued at $34,000. EverSource Wealth Advisors LLC increased its holdings in Dover by 79.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock worth $37,000 after buying an additional 87 shares in the last quarter. Kieckhefer Group LLC bought a new position in Dover during the 4th quarter valued at about $38,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Dover in the fourth quarter worth approximately $46,000. Institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

DOV has been the subject of a number of research reports. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Oppenheimer restated an “outperform” rating and set a $225.00 price target (up from $220.00) on shares of Dover in a research note on Friday, January 31st. Morgan Stanley assumed coverage on shares of Dover in a report on Monday. They issued an “equal weight” rating and a $185.00 price objective on the stock. JPMorgan Chase & Co. dropped their price target on shares of Dover from $230.00 to $189.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Barclays decreased their target price on Dover from $205.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Dover presently has an average rating of “Moderate Buy” and a consensus target price of $208.17.

Dover Stock Down 0.9 %

Shares of DOV stock opened at $161.87 on Thursday. The stock has a market cap of $22.19 billion, a P/E ratio of 8.32, a PEG ratio of 2.06 and a beta of 1.24. The company’s fifty day simple moving average is $182.35 and its two-hundred day simple moving average is $190.88. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Dover Co. has a 52 week low of $143.04 and a 52 week high of $222.31.

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

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s dividend payout ratio is presently 10.59%.

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.