USA Financial Formulas Reduces Stock Holdings in Dover Co. (NYSE:DOV)

USA Financial Formulas decreased its position in Dover Co. (NYSE:DOV) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,150 shares of the industrial products company’s stock after selling 282 shares during the quarter. USA Financial Formulas’ holdings in Dover were worth $779,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in DOV. State Street Corp increased its stake in Dover by 0.9% during the 3rd quarter. State Street Corp now owns 6,214,308 shares of the industrial products company’s stock worth $1,191,531,000 after buying an additional 56,149 shares during the period. Geode Capital Management LLC lifted its stake in shares of Dover by 0.8% in the third quarter. Geode Capital Management LLC now owns 3,228,716 shares of the industrial products company’s stock worth $616,945,000 after acquiring an additional 25,993 shares in the last quarter. FMR LLC boosted its holdings in Dover by 5.1% in the third quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after purchasing an additional 149,378 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Dover by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock worth $271,702,000 after purchasing an additional 60,912 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Dover by 1.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,743 shares of the industrial products company’s stock valued at $188,815,000 after purchasing an additional 17,193 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Performance

Shares of DOV opened at $190.88 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. Dover Co. has a 1 year low of $143.96 and a 1 year high of $208.26. The firm has a fifty day moving average of $196.66 and a 200-day moving average of $188.77. The company has a market cap of $26.19 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 2.70 and a beta of 1.23.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.08%. The ex-dividend date was Friday, November 29th. Dover’s dividend payout ratio (DPR) is 18.43%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DOV. The Goldman Sachs Group lifted 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. UBS Group initiated coverage on shares of Dover in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 target price on the stock. Citigroup decreased their price target on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a research note on Monday. JPMorgan Chase & Co. cut their price objective on Dover from $212.00 to $208.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a report on Monday, October 28th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $212.55.

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.