ING Groep NV Sells 862 Shares of Dover Co. (NYSE:DOV)

ING Groep NV reduced its position in shares of Dover Co. (NYSE:DOV) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,522 shares of the industrial products company’s stock after selling 862 shares during the quarter. ING Groep NV’s holdings in Dover were worth $3,287,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DOV. Financial Life Planners acquired a new position in Dover in the 4th quarter valued at about $28,000. Ashton Thomas Securities LLC bought a new position in shares of Dover during the third quarter worth approximately $33,000. R Squared Ltd bought a new stake in Dover in the 4th quarter valued at $34,000. Kieckhefer Group LLC acquired a new position in Dover in the 4th quarter valued at $38,000. Finally, Golden State Wealth Management LLC bought a new position in Dover during the 4th quarter worth $46,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

DOV has been the topic of several research reports. Wells Fargo & Company upped 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, January 31st. Royal Bank of Canada boosted their price target on Dover from $196.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. Citigroup lowered their price objective on Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Oppenheimer restated an “outperform” rating and issued a $225.00 price target (up previously from $220.00) on shares of Dover in a research report on Friday, January 31st. Finally, The Goldman Sachs Group raised their target price on shares of 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $218.91.

Dover Price Performance

DOV stock opened at $200.43 on Friday. Dover Co. has a 1 year low of $161.19 and a 1 year high of $222.31. 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 market cap of $27.50 billion, a price-to-earnings ratio of 10.30, a P/E/G ratio of 2.06 and a beta of 1.24. The company has a 50 day simple moving average of $195.51 and a 200 day simple moving average of $192.60.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. Research analysts anticipate that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s dividend payout ratio (DPR) is currently 10.59%.

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.