Cullen Frost Bankers Inc. Sells 270 Shares of Dover Co. (NYSE:DOV)

Cullen Frost Bankers Inc. cut its stake in Dover Co. (NYSE:DOV) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,103 shares of the industrial products company’s stock after selling 270 shares during the period. Cullen Frost Bankers Inc.’s holdings in Dover were worth $2,458,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DOV. Proficio Capital Partners LLC bought a new stake in Dover in the fourth quarter valued at approximately $28,718,000. FMR LLC raised its position in shares of Dover by 5.1% during the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after purchasing an additional 149,378 shares during the period. National Bank of Canada FI raised 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 worth $36,647,000 after purchasing an additional 144,930 shares during the period. Barclays PLC raised its position in shares of Dover by 26.6% during the third 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 period. Finally, Assenagon Asset Management S.A. raised its position in shares of Dover by 195.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock worth $17,077,000 after purchasing an additional 60,235 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Down 0.3 %

DOV stock opened at $185.46 on Friday. 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 market capitalization of $25.45 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 2.06 and a beta of 1.24. Dover Co. has a fifty-two week low of $168.20 and a fifty-two week high of $222.31. The stock has a fifty day moving average of $195.90 and a 200-day moving average of $193.56.

Dover (NYSE:DOV) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, hitting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. As a group, equities research analysts predict that Dover Co. will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders 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 annualized dividend and a yield of 1.11%. Dover’s dividend payout ratio is currently 10.59%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Barclays upped their target price on Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. UBS Group lowered their target price on Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Royal Bank of Canada upped their target price on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. The Goldman Sachs Group upped their target price on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Oppenheimer reissued 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 investment 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, Dover currently has an average rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Company 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.