Wedge Capital Management L L P NC Reduces Holdings in Dover Co. (NYSE:DOV)

Wedge Capital Management L L P NC lessened its stake in shares of Dover Co. (NYSE:DOV) by 3.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 89,280 shares of the industrial products company’s stock after selling 3,349 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Dover were worth $16,749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in DOV. Ashton Thomas Securities LLC purchased a new stake in Dover in the third quarter worth $33,000. Fairscale Capital LLC bought a new position in Dover in the 2nd quarter worth $34,000. Kieckhefer Group LLC purchased a new stake in shares of Dover in the 4th quarter worth about $38,000. Avior Wealth Management LLC increased its position in shares of Dover by 183.5% during the third quarter. Avior Wealth Management LLC now owns 258 shares of the industrial products company’s stock valued at $49,000 after buying an additional 167 shares during the period. Finally, Coastline Trust Co purchased a new position in shares of Dover during the third quarter valued at about $50,000. Institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

DOV has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their target price on Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. UBS Group began coverage on Dover in a research note on Wednesday, November 13th. They issued a “neutral” rating and a $217.00 price target on the stock. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research report on Monday, October 28th. Mizuho upped their target price on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Citigroup dropped their price objective on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and an average price target of $212.55.

Dover Stock Performance

DOV opened at $195.00 on Friday. The company has a 50 day simple moving average of $196.15 and a two-hundred day simple moving average of $188.95. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.57 and a quick ratio of 1.06. The firm has a market cap of $26.75 billion, a P/E ratio of 17.44, a PEG ratio of 2.15 and a beta of 1.23. Dover Co. has a 1-year low of $144.63 and a 1-year high of $208.26.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were paid a $0.515 dividend. The ex-dividend date was Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a yield of 1.06%. Dover’s payout ratio is presently 18.43%.

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.