Earnest Partners LLC Decreases Position in Dover Co. (NYSE:DOV)

Earnest Partners LLC lowered its stake in shares of Dover Co. (NYSE:DOV) by 0.9% in the 4th quarter, HoldingsChannel reports. The firm owned 419,396 shares of the industrial products company’s stock after selling 3,783 shares during the quarter. Earnest Partners LLC’s holdings in Dover were worth $78,679,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of DOV. Barclays PLC increased 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 purchasing an additional 75,670 shares during the last quarter. Advisory Resource Group increased its stake in shares of Dover by 2.3% during the 3rd quarter. Advisory Resource Group now owns 24,721 shares of the industrial products company’s stock worth $4,740,000 after purchasing an additional 557 shares during the last quarter. Virtu Financial LLC increased its stake in shares of Dover by 85.1% during the 3rd quarter. Virtu Financial LLC now owns 14,373 shares of the industrial products company’s stock worth $2,756,000 after purchasing an additional 6,608 shares during the last quarter. Anchor Investment Management LLC increased its stake in shares of Dover by 4.1% during the 3rd quarter. Anchor Investment Management LLC now owns 3,241 shares of the industrial products company’s stock worth $621,000 after purchasing an additional 128 shares during the last quarter. Finally, World Investment Advisors LLC grew its stake in Dover by 4.2% in the 3rd quarter. World Investment Advisors LLC now owns 3,267 shares of the industrial products company’s stock valued at $626,000 after buying an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Down 0.3 %

Shares of NYSE:DOV opened at $169.18 on Monday. The firm has a fifty day moving average of $176.90 and a 200 day moving average of $189.71. Dover Co. has a 52-week low of $143.04 and a 52-week high of $222.31. 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 firm has a market capitalization of $23.19 billion, a PE ratio of 8.70, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, April 24th. The industrial products company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.99 by $0.06. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. Dover had a return on equity of 21.03% and a net margin of 32.95%. As a group, research analysts anticipate that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.515 per share. The ex-dividend date was Friday, February 28th. This represents a $2.06 annualized dividend and a dividend yield of 1.22%. Dover’s dividend payout ratio (DPR) is presently 12.41%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DOV. UBS Group reduced their price objective on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Barclays lifted their price objective on shares of Dover from $180.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday. Citigroup reduced their price objective on shares of Dover from $244.00 to $201.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Royal Bank of Canada reiterated a “sector perform” rating on shares of Dover in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $209.50.

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.