Bradley Foster & Sargent Inc. CT Cuts Stake in Dover Co. (NYSE:DOV)

Bradley Foster & Sargent Inc. CT cut its holdings in Dover Co. (NYSE:DOV) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,668 shares of the industrial products company’s stock after selling 123 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Dover were worth $688,000 as of its most recent SEC filing.

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

Dover Trading Down 2.9 %

Shares of Dover stock opened at $200.43 on Friday. Dover Co. has a 12-month low of $161.19 and a 12-month high of $222.31. The firm’s 50 day simple moving average is $195.51 and its two-hundred day simple moving average is $192.60. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $27.50 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 2.06 and a beta of 1.24.

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

Dover Announces Dividend

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 given a $0.515 dividend. The ex-dividend date is Friday, February 28th. This represents a $2.06 dividend on an annualized basis and a yield of 1.03%. Dover’s dividend payout ratio is currently 10.59%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DOV. Oppenheimer reissued an “outperform” rating and issued a $225.00 price target (up from $220.00) on shares of Dover in a research report on Friday, January 31st. The Goldman Sachs Group boosted their target price on shares of Dover from $202.00 to $223.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Citigroup lowered their price target on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price objective for the company in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $218.91.

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.