Modera Wealth Management LLC Cuts Position in Dover Co. (NYSE:DOV)

Modera Wealth Management LLC trimmed its holdings in shares of Dover Co. (NYSE:DOV) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,594 shares of the industrial products company’s stock after selling 470 shares during the quarter. Modera Wealth Management LLC owned 0.07% of Dover worth $17,558,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Strategic Blueprint LLC bought a new stake in shares of Dover during the 3rd quarter worth $204,000. Creative Financial Designs Inc. ADV raised its position in Dover by 2.1% in the third quarter. Creative Financial Designs Inc. ADV now owns 5,307 shares of the industrial products company’s stock worth $1,018,000 after acquiring an additional 108 shares during the period. Lowe Brockenbrough & Co. Inc. boosted its stake in Dover by 5.9% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 26,423 shares of the industrial products company’s stock valued at $5,066,000 after acquiring an additional 1,462 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Dover by 39.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 686 shares of the industrial products company’s stock valued at $132,000 after acquiring an additional 195 shares during the period. Finally, Ceredex Value Advisors LLC increased its stake in shares of Dover by 2.8% during the 3rd quarter. Ceredex Value Advisors LLC now owns 187,300 shares of the industrial products company’s stock worth $35,913,000 after purchasing an additional 5,125 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Up 1.1 %

Shares of NYSE:DOV opened at $198.75 on Friday. The firm has a fifty day moving average price of $196.05 and a two-hundred day moving average price of $193.39. The company has a market cap of $27.27 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 2.06 and a beta of 1.24. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. Dover Co. has a one year low of $163.71 and a one year high of $222.31.

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, meeting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Analysts anticipate that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s dividend payout ratio is currently 10.59%.

Analyst Ratings Changes

Several brokerages have weighed in on DOV. Barclays increased their price objective on Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Royal Bank of Canada increased their price target on Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. UBS Group lowered their price objective on Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Oppenheimer reiterated an “outperform” rating and issued a $225.00 target price (up previously from $220.00) on shares of Dover in a research note on Friday, January 31st. Finally, Citigroup lowered their price target on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.91.

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.