Healthcare of Ontario Pension Plan Trust Fund Cuts Stake in Dover Co. (NYSE:DOV)

Healthcare of Ontario Pension Plan Trust Fund trimmed its position in shares of Dover Co. (NYSE:DOV – Get Rating) by 79.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,133 shares of the industrial products company’s stock after selling 8,451 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Dover were worth $249,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. MV Capital Management Inc. grew its position in Dover by 308.8% during the 3rd quarter. MV Capital Management Inc. now owns 233 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. Ellevest Inc. boosted its holdings in shares of Dover by 47.0% during the 3rd quarter. Ellevest Inc. now owns 244 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 78 shares during the last quarter. Fairfield Bush & CO. purchased a new stake in shares of Dover during the 1st quarter valued at about $48,000. Quantbot Technologies LP purchased a new stake in shares of Dover during the 1st quarter valued at about $55,000. Finally, Guardian Wealth Advisors LLC purchased a new stake in shares of Dover during the 3rd quarter valued at about $50,000. 85.52% of the stock is owned by hedge funds and other institutional investors.

Dover Price Performance

NYSE DOV opened at $151.40 on Friday. Dover Co. has a 12 month low of $114.49 and a 12 month high of $162.88. The stock has a market cap of $21.15 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.19 and a beta of 1.36. The company’s 50 day moving average is $145.83 and its two-hundred day moving average is $136.07. The company has a current ratio of 1.23, a quick ratio of 0.74 and a debt-to-equity ratio of 0.69.

Dover (NYSE:DOV – Get Rating) last released its earnings results on Tuesday, January 31st. The industrial products company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.01. Dover had a net margin of 12.52% and a return on equity of 28.55%. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter last year, the business earned $1.78 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. As a group, research analysts anticipate that Dover Co. will post 8.99 earnings per share for the current year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th will be issued a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Monday, February 27th. Dover’s dividend payout ratio (DPR) is currently 27.19%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Mizuho raised their price target on shares of Dover from $155.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, February 1st. JPMorgan Chase & Co. raised their price target on shares of Dover from $140.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, February 2nd. Citigroup raised their price target on shares of Dover from $162.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, February 1st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Dover from $137.00 to $141.00 in a research note on Monday, December 5th. Finally, Wells Fargo & Company increased their price objective on shares of Dover from $149.00 to $157.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 1st. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and an average target price of $157.50.

Dover Company Profile

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Dover Corp. operates as a manufacturer and solutions provider delivering innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services. It operates through the following segments: Engineered Products, Clean Energy and Fueling, Imaging and Identification, Pumps and Process Solutions, and Climate and Sustainability Technologies.