Dover Co. (NYSE:DOV) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its holdings in Dover Co. (NYSE:DOV) by 0.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 186,229 shares of the industrial products company’s stock after selling 380 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Dover were worth $34,937,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Financial Life Planners purchased a new stake in shares of Dover in the fourth quarter valued at $28,000. Ashton Thomas Securities LLC purchased a new position in Dover during the third quarter worth about $33,000. R Squared Ltd purchased a new position in shares of Dover during the 4th quarter worth about $34,000. Kieckhefer Group LLC purchased a new position in shares of Dover during the 4th quarter worth about $38,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Dover during the 4th quarter worth about $46,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on DOV shares. The Goldman Sachs Group increased their price target on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. increased their target price on Dover from $208.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Oppenheimer restated an “outperform” rating and issued a $225.00 price objective (up from $220.00) on shares of Dover in a report on Friday, January 31st. Finally, Citigroup cut their price objective on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and a consensus target price of $218.91.

Dover Stock Performance

Shares of NYSE:DOV opened at $185.46 on Monday. The company has a market cap of $25.45 billion, a P/E ratio of 9.54, a PEG ratio of 2.06 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.52 and a current ratio of 2.04. Dover Co. has a one year low of $168.20 and a one year high of $222.31. The business’s 50-day simple moving average is $195.85 and its 200 day simple moving average is $193.76.

Dover (NYSE:DOV) last posted 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 net margin of 32.95% and a return on equity of 21.03%. On average, sell-side analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is 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.