Congress Asset Management Co. MA Decreases Holdings in Dover Co. (NYSE:DOV)

Congress Asset Management Co. MA trimmed its holdings in shares of Dover Co. (NYSE:DOV) by 16.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,127 shares of the industrial products company’s stock after selling 1,020 shares during the period. Congress Asset Management Co. MA’s holdings in Dover were worth $789,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Royal London Asset Management Ltd. lifted its holdings in Dover by 5.7% in the 4th quarter. Royal London Asset Management Ltd. now owns 61,542 shares of the industrial products company’s stock worth $9,466,000 after buying an additional 3,320 shares in the last quarter. Syon Capital LLC lifted its holdings in Dover by 23.8% in the 4th quarter. Syon Capital LLC now owns 2,167 shares of the industrial products company’s stock worth $333,000 after buying an additional 416 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in Dover by 26.9% in the 4th quarter. V Square Quantitative Management LLC now owns 2,938 shares of the industrial products company’s stock worth $452,000 after buying an additional 622 shares in the last quarter. Aurora Investment Counsel lifted its holdings in Dover by 2.6% in the 4th quarter. Aurora Investment Counsel now owns 10,564 shares of the industrial products company’s stock worth $1,627,000 after buying an additional 270 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new position in Dover in the 4th quarter worth $80,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Price Performance

DOV opened at $179.23 on Tuesday. The firm has a market cap of $24.63 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 2.20 and a beta of 1.25. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week high of $188.64. The company’s 50-day moving average price is $179.26 and its 200 day moving average price is $166.02. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58.

Dover (NYSE:DOV) last posted its earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.04%. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the firm earned $1.94 EPS. Dover’s quarterly revenue was up .7% on a year-over-year basis. As a group, sell-side analysts expect that Dover Co. will post 9.1 earnings per share for the current year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Friday, May 31st. Dover’s dividend payout ratio (DPR) is 19.60%.

Analyst Upgrades and Downgrades

DOV has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Citigroup upped their target price on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Barclays upped their target price on shares of Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Mizuho upped their target price on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Robert W. Baird upped their target price on shares of Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $185.75.

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.