Ceredex Value Advisors LLC Sells 20,925 Shares of Dover Co. (NYSE:DOV)

Ceredex Value Advisors LLC lowered its stake in shares of Dover Co. (NYSE:DOV) by 11.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 166,375 shares of the industrial products company’s stock after selling 20,925 shares during the quarter. Ceredex Value Advisors LLC’s holdings in Dover were worth $31,212,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Financial Life Planners bought a new position in Dover during the fourth quarter valued at approximately $28,000. R Squared Ltd bought a new position in shares of Dover during the 4th quarter valued at $34,000. EverSource Wealth Advisors LLC boosted its stake in shares of Dover by 79.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock worth $37,000 after buying an additional 87 shares during the last quarter. Kieckhefer Group LLC bought a new stake in shares of Dover in the fourth quarter worth $38,000. Finally, Golden State Wealth Management LLC purchased a new stake in Dover during the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Citigroup dropped their target price on Dover from $244.00 to $201.00 and set a “buy” rating on the stock in a research report on Monday. Morgan Stanley began coverage on shares of Dover in a research report on Monday. They set an “equal weight” rating and a $185.00 target price for the company. JPMorgan Chase & Co. decreased their price target on shares of Dover from $230.00 to $189.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Oppenheimer reissued an “outperform” rating and set a $225.00 price objective (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Finally, Royal Bank of Canada raised their target price on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.17.

Dover Price Performance

NYSE:DOV opened at $163.27 on Wednesday. The business’s 50-day simple moving average is $183.16 and its two-hundred day simple moving average is $191.09. Dover Co. has a 52 week low of $143.04 and a 52 week high of $222.31. The stock has a market cap of $22.38 billion, a PE ratio of 8.39, a P/E/G ratio of 2.06 and a beta of 1.24. 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 (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. As a group, analysts forecast that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $2.06 annualized dividend and a yield of 1.26%. Dover’s payout ratio is 10.59%.

About Dover

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.