Pittenger & Anderson Inc. Raises Stock Position in Dover Co. (NYSE:DOV)

Pittenger & Anderson Inc. grew its holdings in shares of Dover Co. (NYSE:DOV) by 0.2% during the fourth quarter, Holdings Channel reports. The firm owned 35,950 shares of the industrial products company’s stock after purchasing an additional 65 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Dover were worth $6,744,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of DOV. Financial Life Planners purchased a new stake in Dover during the fourth quarter worth about $28,000. Ashton Thomas Securities LLC purchased a new stake in shares of Dover during the third quarter worth approximately $33,000. R Squared Ltd purchased a new stake in shares of Dover during the fourth quarter worth approximately $34,000. Kieckhefer Group LLC purchased a new stake in shares of Dover during the fourth quarter worth approximately $38,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Dover during the fourth quarter worth approximately $46,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Citigroup cut their target price on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada upped their price target on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Barclays upped their price target on Dover from $205.00 to $213.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. JPMorgan Chase & Co. upped their price target on Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group upped their price target on Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $218.91.

Dover Price Performance

Shares of NYSE DOV opened at $202.46 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 1.52. The stock has a fifty day moving average price of $195.26 and a 200 day moving average price of $191.72. Dover Co. has a 1-year low of $159.48 and a 1-year high of $222.31. The company has a market cap of $27.78 billion, a PE ratio of 10.41, a P/E/G ratio of 2.03 and a beta of 1.24.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting the consensus estimate of $2.20. Dover had a return on equity of 21.03% and a net margin of 32.95%. Sell-side analysts forecast that Dover Co. will post 9.47 EPS for the current year.

Dover Announces Dividend

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 1.02%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s payout ratio is currently 10.59%.

Dover Company 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.