Stock Yards Bank & Trust Co. Sells 431 Shares of Dover Co. (NYSE:DOV)

Stock Yards Bank & Trust Co. trimmed its stake in shares of Dover Co. (NYSE:DOV) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,166 shares of the industrial products company’s stock after selling 431 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Dover were worth $3,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in DOV. Versor Investments LP acquired a new position in shares of Dover in the 3rd quarter worth approximately $1,920,000. Brendel Financial Advisors LLC boosted its position in Dover by 347.7% during the third quarter. Brendel Financial Advisors LLC now owns 22,772 shares of the industrial products company’s stock valued at $4,366,000 after acquiring an additional 17,685 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Dover by 195.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock worth $17,077,000 after acquiring an additional 60,235 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Dover by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock valued at $34,100,000 after purchasing an additional 5,372 shares during the period. Finally, Empowered Funds LLC boosted its position in shares of Dover by 54.3% during the 3rd quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock valued at $2,523,000 after purchasing an additional 4,629 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Oppenheimer reissued an “outperform” rating and issued a $225.00 price target (up from $220.00) on shares of Dover in a research note on Friday. JPMorgan Chase & Co. boosted their target price on shares of Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday. Wells Fargo & Company lifted their price target on shares of Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. Finally, Wolfe Research raised Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 target price for the company in a research report on Monday, October 28th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $218.91.

Dover Stock Down 1.0 %

Shares of NYSE:DOV opened at $203.42 on Monday. The business’s 50 day moving average is $195.57 and its 200 day moving average is $190.34. Dover Co. has a 12-month low of $148.45 and a 12-month high of $214.57. The stock has a market cap of $27.91 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 2.03 and a beta of 1.23. The company has a quick ratio of 1.06, a current ratio of 1.57 and a debt-to-equity ratio of 0.53.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a net margin of 18.63% and a return on equity of 23.61%. On average, sell-side analysts forecast that Dover Co. will post 8.17 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.06 annualized dividend and a dividend yield of 1.01%. Dover’s dividend payout ratio is currently 18.43%.

Dover 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.