Ceredex Value Advisors LLC Sells 20,925 Shares of Dover Co. (NYSE:DOV)

Ceredex Value Advisors LLC reduced its stake in Dover Co. (NYSE:DOV) by 11.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 166,375 shares of the industrial products company’s stock after selling 20,925 shares during the period. Ceredex Value Advisors LLC owned about 0.12% of Dover worth $31,212,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DOV. Vanguard Group Inc. increased its stake in shares of Dover by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,235,456 shares of the industrial products company’s stock worth $3,045,772,000 after buying an additional 57,453 shares during the period. Geode Capital Management LLC increased its position in shares of Dover by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,303,257 shares of the industrial products company’s stock valued at $618,068,000 after acquiring an additional 74,541 shares during the period. FMR LLC raised its stake in shares of Dover by 1.1% during the fourth quarter. FMR LLC now owns 3,118,391 shares of the industrial products company’s stock valued at $585,010,000 after acquiring an additional 32,565 shares during the last quarter. Norges Bank purchased a new stake in shares of Dover during the fourth quarter worth about $316,228,000. Finally, Invesco Ltd. grew its stake in shares of Dover by 10.8% in the fourth quarter. Invesco Ltd. now owns 1,179,207 shares of the industrial products company’s stock worth $221,219,000 after purchasing an additional 114,719 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on DOV. Barclays lowered their price target on Dover from $205.00 to $180.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price target (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. Royal Bank of Canada lifted their price target 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. JPMorgan Chase & Co. decreased their price objective on shares of Dover from $230.00 to $189.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Wells Fargo & Company lifted their target price 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. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and an average price target of $208.17.

Dover Price Performance

Shares of NYSE DOV opened at $163.27 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. The company has a 50 day simple moving average of $183.16 and a two-hundred day simple moving average of $191.09. Dover Co. has a fifty-two week low of $143.04 and a fifty-two week high of $222.31. The company has a market capitalization of $22.38 billion, a price-to-earnings ratio of 8.39, a P/E/G ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (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 expect that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Friday, February 28th. Dover’s payout ratio is 10.59%.

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.