UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Position in Dover Co. (NYSE:DOV)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Dover Co. (NYSE:DOV) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 963,988 shares of the industrial products company’s stock after selling 20,755 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.70% of Dover worth $180,844,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of Dover by 26.6% during the 3rd quarter. Barclays PLC now owns 360,291 shares of the industrial products company’s stock worth $69,082,000 after acquiring an additional 75,670 shares in the last quarter. Merit Financial Group LLC increased its holdings in shares of Dover by 35.9% during the 4th quarter. Merit Financial Group LLC now owns 3,176 shares of the industrial products company’s stock worth $596,000 after buying an additional 839 shares during the last quarter. Ballentine Partners LLC increased its holdings in shares of Dover by 4.3% during the 4th quarter. Ballentine Partners LLC now owns 1,944 shares of the industrial products company’s stock worth $365,000 after buying an additional 80 shares during the last quarter. Atomi Financial Group Inc. increased its holdings in shares of Dover by 20.4% during the 4th quarter. Atomi Financial Group Inc. now owns 1,986 shares of the industrial products company’s stock worth $373,000 after buying an additional 336 shares during the last quarter. Finally, Sustainable Insight Capital Management LLC acquired a new stake in shares of Dover in the fourth quarter valued at $3,058,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Up 0.5%

DOV stock opened at $179.82 on Friday. Dover Co. has a 52 week low of $143.04 and a 52 week high of $222.31. The company has a market capitalization of $24.65 billion, a price-to-earnings ratio of 9.25, a price-to-earnings-growth ratio of 2.06 and a beta of 1.28. The firm’s 50-day moving average is $171.94 and its two-hundred day moving average is $187.94. 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 (NYSE:DOV) last released its earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.06. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. Dover had a net margin of 32.95% and a return on equity of 21.03%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the firm posted $1.95 earnings per share. On average, analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Friday, May 30th. Dover’s dividend payout ratio (DPR) is presently 12.41%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $176.00 price objective on shares of Dover in a research note on Friday, April 25th. Wells Fargo & Company lifted their price objective on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. UBS Group dropped their price target on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Finally, Robert W. Baird dropped their price target on shares of Dover from $238.00 to $219.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.75.

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.