Dover Co. (NYSE:DOV) Shares Sold by Strategic Global Advisors LLC

Strategic Global Advisors LLC cut its holdings in Dover Co. (NYSE:DOVFree Report) by 44.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 8,598 shares of the industrial products company’s stock after selling 6,936 shares during the period. Strategic Global Advisors LLC’s holdings in Dover were worth $1,322,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in Dover in the 4th quarter valued at about $175,275,000. Adage Capital Partners GP L.L.C. lifted its position in Dover by 160.2% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock valued at $199,319,000 after purchasing an additional 879,533 shares during the last quarter. Wellington Management Group LLP lifted its position in Dover by 2,173.8% in the 3rd quarter. Wellington Management Group LLP now owns 817,125 shares of the industrial products company’s stock valued at $113,997,000 after purchasing an additional 781,189 shares during the last quarter. Franklin Resources Inc. lifted its position in Dover by 15.4% in the 4th quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock valued at $567,426,000 after purchasing an additional 492,577 shares during the last quarter. Finally, FMR LLC raised its position in shares of Dover by 10.5% during the 3rd quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock worth $333,522,000 after buying an additional 226,646 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Price Performance

NYSE DOV opened at $178.01 on Tuesday. The company has a 50 day moving average price of $178.85 and a two-hundred day moving average price of $164.91. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. Dover Co. has a 12-month low of $127.25 and a 12-month high of $188.64. The stock has a market capitalization of $24.46 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 2.20 and a beta of 1.25.

Dover (NYSE:DOVGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.04%. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the previous year, the company earned $1.94 earnings per share. Dover’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities analysts predict that Dover Co. will post 9.1 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.15%. The ex-dividend date is Friday, May 31st. Dover’s payout ratio is currently 19.60%.

Insider Activity at Dover

In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total value of $1,060,260.00. Following the sale, the chief financial officer now owns 17,909 shares of the company’s stock, valued at approximately $3,164,699.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

DOV has been the topic of a number of recent analyst reports. Mizuho boosted their price target on shares of Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Company boosted their price objective on shares of Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Citigroup boosted their price objective on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Oppenheimer boosted their price objective on shares of Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $185.75.

Read Our Latest Stock Report on Dover

Dover Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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