Welch & Forbes LLC Cuts Stock Position in Dover Co. (NYSE:DOV)

Welch & Forbes LLC trimmed its holdings in shares of Dover Co. (NYSE:DOV) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 165,999 shares of the industrial products company’s stock after selling 1,560 shares during the period. Welch & Forbes LLC owned 0.12% of Dover worth $25,532,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in DOV. Legacy Financial Advisors Inc. grew its stake in shares of Dover by 1.7% in the fourth quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock valued at $577,000 after buying an additional 63 shares in the last quarter. CX Institutional grew its position in Dover by 1.5% in the fourth quarter. CX Institutional now owns 4,933 shares of the industrial products company’s stock valued at $759,000 after acquiring an additional 72 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Dover by 0.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,076 shares of the industrial products company’s stock worth $2,801,000 after purchasing an additional 83 shares in the last quarter. Lincoln National Corp boosted its stake in shares of Dover by 2.3% in the fourth quarter. Lincoln National Corp now owns 3,624 shares of the industrial products company’s stock valued at $558,000 after purchasing an additional 83 shares during the period. Finally, Lindbrook Capital LLC grew its holdings in Dover by 8.1% during the 3rd quarter. Lindbrook Capital LLC now owns 1,225 shares of the industrial products company’s stock valued at $171,000 after purchasing an additional 92 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Dover

In related news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Stephen M. Todd sold 1,500 shares of the 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 transaction, the director now directly owns 22,955 shares in the company, valued at $3,929,666.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction that occurred on 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 directly owns 23,909 shares in the company, valued at approximately $3,897,406.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,910 shares of company stock worth $4,318,059. 1.30% of the stock is owned by company insiders.

Dover Stock Performance

NYSE DOV traded up $2.74 during trading hours on Monday, reaching $181.73. The company’s stock had a trading volume of 640,126 shares, compared to its average volume of 992,995. The stock has a market cap of $24.98 billion, a PE ratio of 17.19, a PEG ratio of 1.84 and a beta of 1.25. The business has a 50-day simple moving average of $173.44 and a 200 day simple moving average of $155.86. Dover Co. has a 52 week low of $127.25 and a 52 week high of $182.33. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the firm posted $1.94 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts predict that Dover Co. will post 9.1 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Friday, May 31st. Dover’s dividend payout ratio (DPR) is 19.60%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on DOV shares. Robert W. Baird raised their target price on Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Mizuho lifted their price objective on Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Seaport Res Ptn raised shares of Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Royal Bank of Canada upped their price target on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Finally, Citigroup raised their price objective on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $185.75.

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.