Dover Co. (NYSE:DOV) Shares Sold by Wealth Alliance

Wealth Alliance lessened its stake in shares of Dover Co. (NYSE:DOV) by 8.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,884 shares of the industrial products company’s stock after selling 359 shares during the period. Wealth Alliance’s holdings in Dover were worth $597,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Fairfield Bush & CO. acquired a new stake in Dover in the 1st quarter valued at about $48,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Dover in the 1st quarter valued at approximately $938,000. Raymond James Trust N.A. grew its stake in shares of Dover by 5.8% in the 1st quarter. Raymond James Trust N.A. now owns 5,645 shares of the industrial products company’s stock valued at $886,000 after buying an additional 310 shares during the period. Vontobel Holding Ltd. grew its stake in shares of Dover by 6.5% in the 1st quarter. Vontobel Holding Ltd. now owns 9,126 shares of the industrial products company’s stock valued at $1,465,000 after buying an additional 561 shares during the period. Finally, Sei Investments Co. grew its stake in shares of Dover by 6.1% in the 1st quarter. Sei Investments Co. now owns 140,560 shares of the industrial products company’s stock valued at $22,055,000 after buying an additional 8,054 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on DOV shares. Royal Bank of Canada increased their price target on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Robert W. Baird increased their price objective on shares of Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Barclays increased their price objective on shares of Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, Seaport Res Ptn raised shares of Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and a consensus target price of $173.88.

Dover Stock Performance

Shares of DOV stock opened at $169.50 on Thursday. Dover Co. has a 52 week low of $127.25 and a 52 week high of $178.28. The firm has a 50 day moving average of $170.06 and a two-hundred day moving average of $152.71. The stock has a market capitalization of $23.29 billion, a PE ratio of 22.54, a P/E/G ratio of 1.78 and a beta of 1.27. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 0.59.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 EPS 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 analyst estimates of $2.16 billion. During the same period last year, the business earned $2.16 EPS. Dover’s revenue for the quarter was down 1.5% compared to the same quarter last year. On average, research analysts predict that Dover Co. will post 9.06 EPS for the current fiscal year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a dividend of $0.51 per share. The ex-dividend date was Wednesday, February 28th. This represents a $2.04 annualized dividend and a yield of 1.20%. Dover’s dividend payout ratio is currently 27.13%.

Insider Buying and Selling

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of Dover 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 directly owns 23,909 shares in the company, valued at $3,897,406.09. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of Dover 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 directly owns 23,909 shares in the company, valued at $3,897,406.09. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Stephen M. Todd sold 1,500 shares of Dover 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 owns 22,955 shares in the company, valued at $3,929,666.45. The disclosure for this sale can be found here. Insiders have sold 25,910 shares of company stock worth $4,318,059 in the last ninety days. 1.30% of the stock is owned by corporate insiders.

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.