Tyche Wealth Partners LLC Makes New $372,000 Investment in Dover Co. (NYSE:DOV)

Tyche Wealth Partners LLC purchased a new stake in shares of Dover Co. (NYSE:DOV) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,420 shares of the industrial products company’s stock, valued at approximately $372,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB increased its position in shares of Dover by 5.5% during the 4th quarter. Nordea Investment Management AB now owns 557,953 shares of the industrial products company’s stock worth $85,612,000 after purchasing an additional 29,096 shares during the last quarter. Vest Financial LLC boosted its stake in Dover by 35.7% during the fourth quarter. Vest Financial LLC now owns 202,490 shares of the industrial products company’s stock worth $31,145,000 after buying an additional 53,273 shares during the period. Chartwell Investment Partners LLC increased its position in shares of Dover by 15.6% during the third quarter. Chartwell Investment Partners LLC now owns 6,733 shares of the industrial products company’s stock valued at $939,000 after acquiring an additional 907 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Dover by 112.9% in the 4th quarter. SG Americas Securities LLC now owns 11,409 shares of the industrial products company’s stock valued at $1,755,000 after acquiring an additional 6,050 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Dover by 2,173.8% during the 3rd quarter. Wellington Management Group LLP now owns 817,125 shares of the industrial products company’s stock worth $113,997,000 after purchasing an additional 781,189 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Dover

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 owns 23,909 shares in the company, valued at $3,897,406.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction that occurred on 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 sale, the director now 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. Insiders sold a total of 25,910 shares of company stock valued at $4,318,059 over the last ninety days. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Oppenheimer boosted their target price on Dover from $175.00 to $177.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Royal Bank of Canada boosted their price objective on Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Citigroup raised their target price on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 8th. Robert W. Baird boosted their price target on shares of Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Finally, Barclays lifted their price objective on shares of Dover from $163.00 to $180.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and an average target price of $173.88.

Dover Stock Down 1.0 %

Shares of NYSE DOV opened at $169.50 on Thursday. The business has a 50-day moving average of $170.06 and a two-hundred day moving average of $152.71. The company has a market capitalization of $23.29 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 1.78 and a beta of 1.27. Dover Co. has a 1 year low of $127.25 and a 1 year high of $178.28. 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:DOV) last posted its earnings results 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. The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Dover had a return on equity of 25.95% and a net margin of 12.52%. The firm’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.16 earnings per share. On average, analysts forecast that Dover Co. will post 9.06 earnings per share for the current fiscal year.

Dover Announces Dividend

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%.

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.