US Bancorp DE Decreases Stock Position in Dover Co. (NYSE:DOV)

US Bancorp DE reduced its position in Dover Co. (NYSE:DOV) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 109,790 shares of the industrial products company’s stock after selling 2,308 shares during the quarter. US Bancorp DE’s holdings in Dover were worth $20,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Financial Life Planners purchased a new stake in Dover in the fourth quarter worth $28,000. Ashton Thomas Securities LLC purchased a new stake in Dover in the third quarter worth $33,000. R Squared Ltd purchased a new stake in Dover in the fourth quarter worth $34,000. Kieckhefer Group LLC purchased a new stake in Dover in the fourth quarter worth $38,000. Finally, Golden State Wealth Management LLC purchased a new stake in Dover in the fourth quarter worth $46,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DOV has been the subject of several recent research reports. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a research report on Thursday. The Goldman Sachs Group lifted their price target on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Wells Fargo & Company lifted their price target on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Oppenheimer reiterated an “outperform” rating and issued a $225.00 price target (up from $220.00) on shares of Dover in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $218.91.

Dover Price Performance

DOV stock opened at $198.75 on Monday. The firm has a 50 day simple moving average of $196.05 and a two-hundred day simple moving average of $193.51. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The stock has a market cap of $27.27 billion, a PE ratio of 10.22, a P/E/G ratio of 2.06 and a beta of 1.24. Dover Co. has a one year low of $163.71 and a one year high of $222.31.

Dover (NYSE:DOV) last released its earnings results on Thursday, January 30th. The industrial products company reported $2.20 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%. On average, analysts predict that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.515 dividend. The ex-dividend date is Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a yield of 1.04%. Dover’s dividend payout ratio is presently 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.