American International Group Inc. Sells 329 Shares of Dover Co. (NYSE:DOV)

American International Group Inc. decreased its stake in shares of Dover Co. (NYSE:DOV) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,680 shares of the industrial products company’s stock after selling 329 shares during the quarter. American International Group Inc.’s holdings in Dover were worth $5,642,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Rafferty Asset Management LLC grew its position in Dover by 9.4% during the 3rd quarter. Rafferty Asset Management LLC now owns 11,124 shares of the industrial products company’s stock valued at $1,552,000 after purchasing an additional 954 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Dover by 12.5% during the third quarter. Envestnet Asset Management Inc. now owns 206,041 shares of the industrial products company’s stock valued at $28,745,000 after acquiring an additional 22,932 shares in the last quarter. Invesco Ltd. raised its holdings in Dover by 14.9% in the 3rd quarter. Invesco Ltd. now owns 1,025,505 shares of the industrial products company’s stock worth $143,068,000 after acquiring an additional 133,241 shares during the last quarter. LPL Financial LLC lifted its position in Dover by 19.2% in the 3rd quarter. LPL Financial LLC now owns 107,154 shares of the industrial products company’s stock valued at $14,949,000 after acquiring an additional 17,245 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Dover by 5.5% during the 3rd quarter. Northern Trust Corp now owns 1,724,613 shares of the industrial products company’s stock valued at $240,601,000 after purchasing an additional 89,774 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on DOV shares. Barclays upped their price target on Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Robert W. Baird boosted their price objective on shares of Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Oppenheimer raised their target price on shares of Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, Citigroup increased their price target on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Dover has a consensus rating of “Moderate Buy” and an average price target of $185.75.

Dover Trading Down 0.4 %

Shares of Dover stock opened at $182.50 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.89. The stock has a market capitalization of $25.08 billion, a PE ratio of 17.53, a P/E/G ratio of 2.27 and a beta of 1.24. Dover Co. has a 1-year low of $127.25 and a 1-year high of $188.64. The company’s fifty day simple moving average is $180.02 and its 200-day simple moving average is $167.07.

Dover (NYSE:DOV) last released its earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.07. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.03 billion. Dover had a return on equity of 25.04% and a net margin of 17.28%. Dover’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.94 earnings per share. As a group, equities analysts anticipate 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 paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Friday, May 31st. Dover’s payout ratio is 19.60%.

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.