Mendota Financial Group LLC Lowers Holdings in Dover Co. (NYSE:DOV)

Mendota Financial Group LLC cut its position in shares of Dover Co. (NYSE:DOV) by 38.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 175 shares of the industrial products company’s stock after selling 111 shares during the period. Mendota Financial Group LLC’s holdings in Dover were worth $33,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Versor Investments LP bought a new position in shares of Dover in the 3rd quarter worth $1,920,000. Brendel Financial Advisors LLC raised its holdings in Dover by 347.7% in the third quarter. Brendel Financial Advisors LLC now owns 22,772 shares of the industrial products company’s stock worth $4,366,000 after purchasing an additional 17,685 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Dover by 3.1% during the third quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock valued at $34,100,000 after buying an additional 5,372 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Dover by 54.3% in the 3rd quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock valued at $2,523,000 after buying an additional 4,629 shares in the last quarter. Finally, Virtu Financial LLC grew its position in shares of Dover by 85.1% in the 3rd quarter. Virtu Financial LLC now owns 14,373 shares of the industrial products company’s stock worth $2,756,000 after buying an additional 6,608 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of DOV stock opened at $186.88 on Tuesday. The stock has a market cap of $25.64 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 2.70 and a beta of 1.22. Dover Co. has a 52-week low of $143.96 and a 52-week high of $208.26. The business has a 50-day simple moving average of $196.72 and a 200-day simple moving average of $188.71. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.515 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.06 annualized dividend and a yield of 1.10%. Dover’s dividend payout ratio is presently 18.43%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. UBS Group initiated coverage on shares of Dover in a research report on Wednesday, November 13th. They set a “neutral” rating and a $217.00 target price for the company. Citigroup reduced their price target on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research report on Monday. Oppenheimer reissued an “outperform” rating and issued a $215.00 price objective (up previously from $210.00) on shares of Dover in a research report on Wednesday, October 16th. Wells Fargo & Company reduced their target price on Dover from $205.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group raised their price target on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $212.91.

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.