JPMorgan Chase & Co. Trims Position in Dover Co. (NYSE:DOV)

JPMorgan Chase & Co. trimmed its stake in Dover Co. (NYSE:DOV) by 7.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,588,281 shares of the industrial products company’s stock after selling 796,414 shares during the period. JPMorgan Chase & Co. owned about 0.07% of Dover worth $1,798,762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in DOV. Spire Wealth Management increased its stake in shares of Dover by 2.1% during the fourth quarter. Spire Wealth Management now owns 2,475 shares of the industrial products company’s stock valued at $464,000 after buying an additional 52 shares during the period. ORG Partners LLC increased its position in Dover by 5.4% during the 4th quarter. ORG Partners LLC now owns 1,140 shares of the industrial products company’s stock valued at $214,000 after purchasing an additional 58 shares during the period. Trust Point Inc. raised its holdings in shares of Dover by 3.1% in the 4th quarter. Trust Point Inc. now owns 1,957 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 59 shares in the last quarter. JGP Wealth Management LLC lifted its position in shares of Dover by 0.8% in the 4th quarter. JGP Wealth Management LLC now owns 8,075 shares of the industrial products company’s stock worth $1,515,000 after purchasing an additional 62 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Dover by 3.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,401 shares of the industrial products company’s stock valued at $450,000 after purchasing an additional 70 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Down 1.7 %

DOV stock opened at $179.16 on Friday. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Dover Co. has a 52 week low of $168.20 and a 52 week high of $222.31. The stock has a market capitalization of $24.56 billion, a PE ratio of 9.21, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24. The firm has a 50 day moving average of $194.03 and a 200 day moving average of $193.59.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share 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%. Sell-side analysts forecast that Dover Co. will post 9.45 earnings per share for the current 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 issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, February 28th. Dover’s dividend payout ratio is presently 10.59%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. 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. Citigroup decreased their price objective on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company raised their price objective on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. The Goldman Sachs Group increased their price target on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price objective (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Five 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.