Inspire Investing LLC Reduces Stake in Dover Co. (NYSE:DOV)

Inspire Investing LLC cut its holdings in shares of Dover Co. (NYSE:DOV) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,470 shares of the industrial products company’s stock after selling 232 shares during the quarter. Inspire Investing LLC’s holdings in Dover were worth $2,527,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of DOV. FMR LLC grew its holdings in shares of Dover by 5.1% during the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock worth $591,676,000 after purchasing an additional 149,378 shares during the period. National Bank of Canada FI grew its holdings in shares of Dover by 313.7% during the 3rd quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company’s stock worth $36,647,000 after purchasing an additional 144,930 shares during the period. Kimelman & Baird LLC purchased a new position in shares of Dover during the 2nd quarter worth $17,323,000. Barclays PLC grew its holdings in shares of Dover by 26.6% during the 3rd quarter. Barclays PLC now owns 360,291 shares of the industrial products company’s stock worth $69,082,000 after purchasing an additional 75,670 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of Dover during the 3rd quarter worth $14,459,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Price Performance

Shares of NYSE DOV opened at $198.88 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.06 and a current ratio of 1.57. Dover Co. has a fifty-two week low of $147.98 and a fifty-two week high of $208.26. The firm has a market capitalization of $27.28 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 2.03 and a beta of 1.23. The stock’s 50-day simple moving average is $195.78 and its 200-day simple moving average is $189.47.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, November 29th. Dover’s dividend payout ratio (DPR) is presently 18.43%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wells Fargo & Company lowered their target price on Dover from $205.00 to $200.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. The Goldman Sachs Group raised their target price on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Mizuho raised their target price on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Barclays raised their target price on Dover from $190.00 to $205.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, Wolfe Research upgraded Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a report on Monday, October 28th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and a consensus price target of $212.55.

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.