Congress Wealth Management LLC DE Lowers Stake in Dover Co. (NYSE:DOV)

Congress Wealth Management LLC DE decreased its position in shares of Dover Co. (NYSE:DOV) by 37.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,434 shares of the industrial products company’s stock after selling 1,452 shares during the period. Congress Wealth Management LLC DE’s holdings in Dover were worth $457,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of DOV. Amundi lifted its stake in shares of Dover by 42.3% during the 4th quarter. Amundi now owns 648,525 shares of the industrial products company’s stock worth $121,417,000 after purchasing an additional 192,908 shares during the period. Raymond James Financial Inc. acquired a new stake in Dover in the 4th quarter worth about $30,741,000. Proficio Capital Partners LLC purchased a new stake in Dover in the 4th quarter valued at about $28,718,000. FMR LLC increased its stake in shares of Dover by 5.1% during the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after acquiring an additional 149,378 shares during the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of Dover by 313.7% during the 3rd quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company’s stock worth $36,647,000 after acquiring an additional 144,930 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Performance

Shares of NYSE:DOV opened at $174.63 on Friday. The company has a market cap of $23.94 billion, a P/E ratio of 8.98, a PEG ratio of 2.06 and a beta of 1.24. Dover Co. has a one year low of $168.20 and a one year high of $222.31. The business’s 50-day simple moving average is $193.63 and its 200 day simple moving average is $193.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04.

Dover (NYSE:DOV) last posted its earnings results 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, sell-side analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DOV shares. UBS Group lowered their target price on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Oppenheimer restated an “outperform” rating and set a $225.00 price objective (up from $220.00) on shares of Dover in a report on Friday, January 31st. Wells Fargo & Company lifted their target price on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Citigroup dropped their price target 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 lifted their price objective on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.