North Point Portfolio Managers Corp OH Sells 662 Shares of Dover Co. (NYSE:DOV)

North Point Portfolio Managers Corp OH lowered its holdings in Dover Co. (NYSE:DOVFree Report) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 73,665 shares of the industrial products company’s stock after selling 662 shares during the period. North Point Portfolio Managers Corp OH’s holdings in Dover were worth $11,330,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Howland Capital Management LLC bought a new stake in shares of Dover in the fourth quarter valued at approximately $217,000. Oak Thistle LLC acquired a new position in Dover during the 4th quarter valued at $330,000. Norris Perne & French LLP MI bought a new stake in Dover in the 4th quarter valued at $211,000. AdvisorNet Financial Inc grew its position in Dover by 783.3% in the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 188 shares during the last quarter. Finally, Life Planning Partners Inc bought a new position in shares of Dover during the 4th quarter worth about $35,000. 84.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DOV has been the topic of a number of recent research reports. StockNews.com downgraded Dover from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Robert W. Baird upped their target price on Dover from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Barclays lifted their price target on shares of Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Citigroup increased their price objective on shares of Dover from $167.00 to $173.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Finally, Royal Bank of Canada raised their price objective on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $170.40.

View Our Latest Analysis on DOV

Dover Price Performance

Shares of DOV traded up $0.54 during trading hours on Wednesday, hitting $174.27. The stock had a trading volume of 185,359 shares, compared to its average volume of 944,058. Dover Co. has a 52 week low of $127.25 and a 52 week high of $178.28. The stock has a market capitalization of $23.94 billion, a price-to-earnings ratio of 23.10, a P/E/G ratio of 1.79 and a beta of 1.27. The company’s fifty day moving average is $165.87 and its two-hundred day moving average is $150.33. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.40 and a quick ratio of 0.90.

Dover (NYSE:DOVGet Free Report) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.01. Dover had a net margin of 12.52% and a return on equity of 25.95%. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the firm earned $2.16 earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, analysts anticipate that Dover Co. will post 9.07 EPS for the current year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a $0.51 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $2.04 annualized dividend and a yield of 1.17%. Dover’s payout ratio is 27.13%.

Insider Transactions at Dover

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction that occurred 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 directly owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Dover 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 value of $3,001,014.10. Following the sale, the chief financial officer now owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen M. Todd sold 1,500 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction 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 have sold 25,910 shares of company stock worth $4,318,059. Corporate insiders own 1.30% of the company’s stock.

About Dover

(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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