Pitcairn Co. Cuts Position in Dover Co. (NYSE:DOV)

Pitcairn Co. trimmed its holdings in shares of Dover Co. (NYSE:DOV) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,599 shares of the industrial products company’s stock after selling 80 shares during the quarter. Pitcairn Co.’s holdings in Dover were worth $675,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of DOV. Townsquare Capital LLC lifted its holdings in shares of Dover by 16.8% in the third quarter. Townsquare Capital LLC now owns 1,986 shares of the industrial products company’s stock worth $381,000 after buying an additional 286 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of Dover by 13.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 5,959 shares of the industrial products company’s stock valued at $1,143,000 after buying an additional 700 shares in the last quarter. Benjamin Edwards Inc. bought a new stake in shares of Dover during the 3rd quarter worth $218,000. Hilltop Holdings Inc. grew its position in Dover by 19.6% in the third quarter. Hilltop Holdings Inc. now owns 2,706 shares of the industrial products company’s stock worth $519,000 after acquiring an additional 444 shares in the last quarter. Finally, Investment Management Corp of Ontario grew its position in Dover by 49.1% in the third quarter. Investment Management Corp of Ontario now owns 4,553 shares of the industrial products company’s stock worth $873,000 after acquiring an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Down 5.6 %

Shares of NYSE:DOV opened at $153.69 on Friday. The stock’s 50-day moving average is $190.78 and its 200 day moving average is $193.03. The company has a market cap of $21.06 billion, a PE ratio of 7.90, a P/E/G ratio of 2.06 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. Dover Co. has a 1 year low of $150.60 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 the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. Sell-side analysts anticipate that Dover Co. will post 9.45 EPS for the current year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.515 dividend. The ex-dividend date was Friday, February 28th. This represents a $2.06 annualized dividend and a yield of 1.34%. Dover’s dividend payout ratio (DPR) is presently 10.59%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DOV. The Goldman Sachs Group lifted their price target on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Barclays cut their target price on Dover from $213.00 to $205.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. UBS Group reduced their price target on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Finally, Royal Bank of Canada increased their target price on shares of Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and an average target price of $218.18.

About Dover

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.