Wellington Management Group LLP Sells 53,164 Shares of Dover Co. (NYSE:DOV)

Wellington Management Group LLP cut its holdings in shares of Dover Co. (NYSE:DOV) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,877,371 shares of the industrial products company’s stock after selling 53,164 shares during the period. Wellington Management Group LLP’s holdings in Dover were worth $352,195,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DOV. Norges Bank bought a new stake in Dover during the 4th quarter valued at $316,228,000. Amundi boosted its position in Dover by 42.3% during the fourth quarter. Amundi now owns 648,525 shares of the industrial products company’s stock valued at $121,417,000 after purchasing an additional 192,908 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Dover in the fourth quarter valued at about $30,741,000. Proficio Capital Partners LLC bought a new position in Dover in the fourth quarter worth about $28,718,000. Finally, National Bank of Canada FI lifted its position in shares of Dover by 313.7% during the third quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company’s stock valued at $36,647,000 after buying an additional 144,930 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Performance

DOV opened at $176.32 on Wednesday. The firm has a 50 day moving average of $192.80 and a two-hundred day moving average of $193.58. The firm has a market capitalization of $24.17 billion, a PE ratio of 9.07, a P/E/G ratio of 2.06 and a beta of 1.24. 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 Co. has a 12-month low of $168.20 and a 12-month high of $222.31.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS 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%. On average, 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 given a $0.515 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 annualized dividend and a yield of 1.17%. Dover’s dividend payout ratio is presently 10.59%.

Wall Street Analyst Weigh In

Several research analysts recently commented on DOV shares. JPMorgan Chase & Co. boosted their price objective on shares of Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Barclays reduced their price target on Dover from $213.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Wells Fargo & Company raised their price objective on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Royal Bank of Canada increased their price target on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group boosted 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. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.