Wealthspire Advisors LLC Lowers Stock Position in Dover Co. (NYSE:DOV)

Wealthspire Advisors LLC lowered its holdings in shares of Dover Co. (NYSE:DOV) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,039 shares of the industrial products company’s stock after selling 80 shares during the period. Wealthspire Advisors LLC’s holdings in Dover were worth $1,544,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. FMR LLC grew its stake in shares of Dover by 10.5% in the 3rd quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock valued at $333,522,000 after purchasing an additional 226,646 shares during the last quarter. Northern Trust Corp grew its position in shares of Dover by 5.5% in the third quarter. Northern Trust Corp now owns 1,724,613 shares of the industrial products company’s stock valued at $240,601,000 after purchasing an additional 89,774 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of Dover by 160.2% in the third 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 acquiring an additional 879,533 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Dover by 14.9% during the 3rd quarter. Invesco Ltd. now owns 1,025,505 shares of the industrial products company’s stock worth $143,068,000 after purchasing an additional 133,241 shares during the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of Dover by 3.6% in the third quarter. Corient Private Wealth LLC now owns 992,449 shares of the industrial products company’s stock valued at $138,457,000 after buying an additional 34,207 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Oppenheimer lifted their target price on shares of Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Seaport Res Ptn upgraded Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Barclays lifted their price target on Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Mizuho boosted their target price on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Wells Fargo & Company increased their price target on shares of Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $185.75.

Dover Trading Up 0.7 %

Shares of DOV stock traded up $1.20 during mid-day trading on Thursday, reaching $184.95. The company’s stock had a trading volume of 792,059 shares, compared to its average volume of 987,410. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $25.42 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 1.84 and a beta of 1.25. The company’s 50 day simple moving average is $174.52 and its 200-day simple moving average is $156.71. Dover Co. has a 12-month low of $127.25 and a 12-month high of $185.01.

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

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.10%. Dover’s dividend payout ratio is currently 19.60%.

Insider Activity

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total value of $3,001,014.10. Following the transaction, the chief financial officer now owns 23,909 shares in the company, valued at approximately $3,897,406.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the sale, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the completion of the transaction, the director now directly owns 22,955 shares of the company’s stock, valued at approximately $3,929,666.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,910 shares of company stock worth $4,318,059. 1.30% of the stock is currently owned by company insiders.

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.