Allspring Global Investments Holdings LLC Sells 700 Shares of Dover Co. (NYSE:DOV)

Allspring Global Investments Holdings LLC reduced its holdings in shares of Dover Co. (NYSE:DOV) by 5.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,462 shares of the industrial products company’s stock after selling 700 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Dover were worth $2,128,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Sequoia Financial Advisors LLC raised its holdings in Dover by 41.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,635 shares of the industrial products company’s stock valued at $505,000 after acquiring an additional 773 shares in the last quarter. Private Advisor Group LLC raised its holdings in Dover by 3.7% in the 3rd quarter. Private Advisor Group LLC now owns 9,139 shares of the industrial products company’s stock valued at $1,752,000 after acquiring an additional 324 shares in the last quarter. Lecap Asset Management Ltd. raised its holdings in Dover by 34.7% in the 3rd quarter. Lecap Asset Management Ltd. now owns 3,151 shares of the industrial products company’s stock valued at $604,000 after acquiring an additional 811 shares in the last quarter. Commerzbank Aktiengesellschaft FI acquired a new position in Dover in the 3rd quarter valued at $237,000. Finally, International Assets Investment Management LLC acquired a new position in Dover in the 3rd quarter valued at $14,459,000. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Down 2.9 %

Shares of Dover stock opened at $200.43 on Friday. Dover Co. has a one year low of $161.19 and a one year high of $222.31. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The stock’s 50-day moving average is $195.51 and its 200 day moving average is $192.47. The firm has a market cap of $27.51 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 2.04 and a beta of 1.24.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share 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%. Equities research analysts anticipate that Dover Co. will post 9.45 EPS for the current year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, February 28th. Dover’s dividend payout ratio is presently 10.59%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on DOV shares. Wells Fargo & Company boosted their price target on Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target for the company in a report on Monday, October 28th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th. Citigroup lowered their price target on Dover from $236.00 to $222.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, UBS Group lowered their price target on Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus 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.