Global Trust Asset Management LLC Sells 250 Shares of Dover Co. (NYSE:DOV)

Global Trust Asset Management LLC lowered its holdings in Dover Co. (NYSE:DOV) by 21.5% in the fourth quarter, Holdings Channel reports. The firm owned 915 shares of the industrial products company’s stock after selling 250 shares during the quarter. Global Trust Asset Management LLC’s holdings in Dover were worth $172,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DOV. FMR LLC boosted its holdings in shares of Dover by 5.1% in the 3rd quarter. FMR LLC now owns 3,085,826 shares of the industrial products company’s stock valued at $591,676,000 after buying an additional 149,378 shares during the last quarter. National Bank of Canada FI lifted its stake in Dover by 313.7% in the third quarter. National Bank of Canada FI now owns 191,127 shares of the industrial products company’s stock valued at $36,647,000 after acquiring an additional 144,930 shares during the last quarter. Kimelman & Baird LLC bought a new position in shares of Dover in the 2nd quarter valued at about $17,323,000. Barclays PLC increased its stake 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 last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Dover in the 3rd quarter valued at about $14,459,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Up 1.7 %

Shares of DOV opened at $198.46 on Wednesday. The company has a current ratio of 1.57, a quick ratio of 1.06 and a debt-to-equity ratio of 0.53. Dover Co. has a 12 month low of $147.98 and a 12 month high of $208.26. The firm’s 50 day moving average is $195.88 and its 200-day moving average is $189.40. The stock has a market capitalization of $27.23 billion, a PE ratio of 17.75, a P/E/G ratio of 2.00 and a beta of 1.23.

Dover Dividend Announcement

The business 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. The ex-dividend date of this dividend was Friday, November 29th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.04%. Dover’s payout ratio is 18.43%.

Analyst Ratings Changes

A number of equities analysts have weighed in on DOV shares. Wells Fargo & Company lowered their price target on Dover from $205.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Oppenheimer restated an “outperform” rating and issued a $215.00 price target (up previously from $210.00) on shares of Dover in a research note on Wednesday, October 16th. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. Mizuho increased their price objective on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Citigroup reduced their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating for the company in a report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and a consensus target price 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.