Paladin Advisory Group LLC Lowers Position in Dover Co. (NYSE:DOV)

Paladin Advisory Group LLC trimmed its holdings in shares of Dover Co. (NYSE:DOV) by 22.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 272 shares of the industrial products company’s stock after selling 79 shares during the quarter. Paladin Advisory Group LLC’s holdings in Dover were worth $42,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in DOV. Norges Bank purchased a new stake in Dover during the fourth quarter valued at about $167,153,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Dover by 112.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,902,351 shares of the industrial products company’s stock valued at $257,597,000 after buying an additional 1,005,470 shares in the last quarter. CI Private Wealth LLC bought a new stake in Dover in the 4th quarter worth approximately $126,175,000. Adage Capital Partners GP L.L.C. boosted its stake in Dover by 160.2% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock worth $199,319,000 after buying an additional 879,533 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Dover by 2,173.8% during the third quarter. Wellington Management Group LLP now owns 817,125 shares of the industrial products company’s stock valued at $113,997,000 after acquiring an additional 781,189 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Dover

In other 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 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 can be accessed through this hyperlink. In related news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $163.01, for a total transaction 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 SEC, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the sale, the chief financial officer now directly owns 17,909 shares in the company, valued at approximately $3,164,699.39. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,910 shares of company stock valued at $4,318,059. 1.30% of the stock is currently owned by corporate insiders.

Dover Trading Up 0.7 %

Shares of DOV traded up $1.23 during mid-day trading on Friday, hitting $169.84. 1,207,451 shares of the company’s stock traded hands, compared to its average volume of 947,624. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $23.33 billion, a P/E ratio of 22.59, a PEG ratio of 1.76 and a beta of 1.27. The business’s 50-day moving average price is $170.23 and its 200-day moving average price is $152.82. Dover Co. has a 1 year low of $127.25 and a 1 year high of $178.28.

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, beating 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 for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the firm earned $2.16 EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Dover Co. will post 9.06 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.51 dividend. 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 (DPR) is presently 27.13%.

Analysts Set New Price Targets

DOV has been the subject of a number of research reports. Royal Bank of Canada upped their price objective 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. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Robert W. Baird boosted 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. Oppenheimer increased their target price on Dover from $177.00 to $187.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Barclays lifted their price target on Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus target price of $175.13.

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.