Williams Jones Wealth Management LLC. Decreases Position in Dover Co. (NYSE:DOV)

Williams Jones Wealth Management LLC. trimmed its holdings in shares of Dover Co. (NYSE:DOV) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 553,821 shares of the industrial products company’s stock after selling 5,495 shares during the period. Dover comprises approximately 1.3% of Williams Jones Wealth Management LLC.’s portfolio, making the stock its 29th largest position. Williams Jones Wealth Management LLC. owned about 0.40% of Dover worth $103,897,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of DOV. Norges Bank purchased a new stake in Dover during the 4th quarter valued at about $316,228,000. Balyasny Asset Management L.P. bought a new stake in Dover in the fourth quarter valued at approximately $99,017,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Dover by 31.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,182,995 shares of the industrial products company’s stock valued at $409,530,000 after purchasing an additional 524,092 shares during the period. Woodline Partners LP grew its holdings in shares of Dover by 352.9% in the fourth quarter. Woodline Partners LP now owns 385,180 shares of the industrial products company’s stock worth $72,260,000 after purchasing an additional 300,124 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Dover by 16.6% in the fourth quarter. Northern Trust Corp now owns 1,726,523 shares of the industrial products company’s stock worth $323,896,000 after buying an additional 245,535 shares during the period. 84.46% of the stock is owned by institutional investors.

Dover Price Performance

Shares of DOV stock opened at $186.33 on Tuesday. The business’s fifty day moving average is $171.91 and its 200 day moving average is $188.10. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $25.55 billion, a price-to-earnings ratio of 9.58, a PEG ratio of 2.06 and a beta of 1.28. Dover Co. has a twelve month low of $143.04 and a twelve month high of $222.31.

Dover (NYSE:DOV) last released its earnings results on Thursday, April 24th. The industrial products company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.06. Dover had a net margin of 32.95% and a return on equity of 21.03%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the firm earned $1.95 EPS. The company’s revenue was down .9% compared to the same quarter last year. Research analysts expect that Dover Co. will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.515 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.11%. Dover’s payout ratio is 12.41%.

Analyst Ratings Changes

Several equities research analysts have weighed in on DOV shares. Citigroup dropped their price target on shares of Dover from $244.00 to $201.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Barclays increased their target price on shares of Dover from $180.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, April 24th. Wells Fargo & Company boosted their price target on Dover from $200.00 to $215.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Finally, Mizuho set a $215.00 target price on Dover in a research note on Friday. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and a consensus target price of $207.75.

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.