Hartford Investment Management Co. Sells 164 Shares of Dover Co. (NYSE:DOV)

Hartford Investment Management Co. lessened its holdings in Dover Co. (NYSE:DOV) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,506 shares of the industrial products company’s stock after selling 164 shares during the quarter. Hartford Investment Management Co.’s holdings in Dover were worth $1,596,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in DOV. Financial Life Planners bought a new position in shares of Dover during the fourth quarter valued at $28,000. Ashton Thomas Securities LLC bought a new stake in shares of Dover in the third quarter worth $33,000. R Squared Ltd acquired a new stake in Dover in the fourth quarter valued at $34,000. Kieckhefer Group LLC bought a new position in Dover during the 4th quarter worth $38,000. Finally, Golden State Wealth Management LLC acquired a new position in Dover during the 4th quarter worth about $46,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Trading Up 0.8 %

NYSE:DOV opened at $202.76 on Friday. The firm has a fifty day simple moving average of $195.23 and a two-hundred day simple moving average of $191.50. Dover Co. has a 12 month low of $159.23 and a 12 month high of $222.31. The stock has a market capitalization of $27.82 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 2.03 and a beta of 1.24. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36.

Dover (NYSE:DOV) last issued its earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Analysts expect that Dover Co. will post 9.47 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.02%. Dover’s dividend payout ratio is currently 10.59%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. UBS Group decreased their price target on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. The Goldman Sachs Group increased their target price 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. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Oppenheimer reiterated an “outperform” rating and set a $225.00 price objective (up from $220.00) on shares of Dover in a research report on Friday, January 31st. Finally, Barclays lifted their target price on shares of Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Company 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.