Dover Co. (NYSE:DOV) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. cut its stake in Dover Co. (NYSE:DOV) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,846 shares of the industrial products company’s stock after selling 1,335 shares during the period. Johnson Investment Counsel Inc. owned 0.07% of Dover worth $18,731,000 at the end of the most recent reporting period.

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

Dover Stock Performance

Shares of DOV opened at $185.46 on Monday. The firm has a 50-day moving average price of $195.85 and a 200 day moving average price of $193.76. The firm has a market capitalization of $25.45 billion, a PE ratio of 9.54, 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 Co. has a 52-week low of $168.20 and a 52-week high of $222.31.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, sell-side analysts anticipate that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders 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 yield of 1.11%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s payout ratio is 10.59%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Oppenheimer reissued an “outperform” rating and set a $225.00 target price (up from $220.00) on shares of Dover in a report on Friday, January 31st. Wells Fargo & Company upped their price target on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. The Goldman Sachs Group upped their price target on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Barclays upped their price target on shares of Dover from $205.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.