Court Place Advisors LLC Has $2.38 Million Stock Holdings in Dover Co. (NYSE:DOV)

Court Place Advisors LLC lessened its holdings in Dover Co. (NYSE:DOV) by 1.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 15,484 shares of the industrial products company’s stock after selling 299 shares during the period. Court Place Advisors LLC’s holdings in Dover were worth $2,382,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Daiwa Securities Group Inc. grew its stake in shares of Dover by 5.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 18,366 shares of the industrial products company’s stock worth $2,825,000 after buying an additional 942 shares during the last quarter. Tyche Wealth Partners LLC acquired a new position in shares of Dover during the fourth quarter worth $372,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Dover by 18.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,149 shares of the industrial products company’s stock worth $10,021,000 after purchasing an additional 10,294 shares during the period. SVB Wealth LLC lifted its holdings in shares of Dover by 7.8% during the fourth quarter. SVB Wealth LLC now owns 17,786 shares of the industrial products company’s stock worth $2,736,000 after purchasing an additional 1,287 shares during the period. Finally, Cornercap Investment Counsel Inc. lifted its holdings in shares of Dover by 5.1% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 15,364 shares of the industrial products company’s stock worth $2,363,000 after purchasing an additional 750 shares during the period. Institutional investors own 84.46% of the company’s stock.

Insiders Place Their Bets

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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the transaction, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,910 shares of company stock valued at $4,318,059. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DOV. Royal Bank of Canada boosted their target price 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. Oppenheimer boosted their target price on shares of Dover from $175.00 to $177.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Robert W. Baird boosted their target price on shares of Dover from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Citigroup boosted their target price on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, Wells Fargo & Company boosted their target price on shares of Dover from $140.00 to $167.00 and gave the company an “equal weight” rating in a report on Tuesday, December 19th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $173.88.

Dover Stock Down 1.0 %

Shares of NYSE:DOV traded down $1.66 during midday trading on Wednesday, hitting $169.50. 1,017,845 shares of the company’s stock were exchanged, compared to its average volume of 943,934. Dover Co. has a 12 month low of $127.25 and a 12 month 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. The stock has a 50 day moving average price of $170.06 and a 200-day moving average price of $152.71. The company has a market cap of $23.29 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.01. Dover had a net margin of 12.52% and a return on equity of 25.95%. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the firm posted $2.16 EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Dover Co. will post 9.06 EPS for the current fiscal year.

Dover Dividend Announcement

The company 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. This represents a $2.04 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Wednesday, February 28th. Dover’s payout ratio is 27.13%.

Dover 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.