PGGM Investments Sells 1,875 Shares of Dover Co. (NYSE:DOV)

PGGM Investments cut its holdings in shares of Dover Co. (NYSE:DOV) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,735 shares of the industrial products company’s stock after selling 1,875 shares during the period. PGGM Investments owned approximately 0.05% of Dover worth $11,341,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. CX Institutional increased its position in shares of Dover by 1.5% during the fourth quarter. CX Institutional now owns 4,933 shares of the industrial products company’s stock worth $759,000 after acquiring an additional 72 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Dover by 0.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,076 shares of the industrial products company’s stock valued at $2,801,000 after buying an additional 83 shares during the last quarter. Lindbrook Capital LLC increased its stake in Dover by 8.1% in the 3rd quarter. Lindbrook Capital LLC now owns 1,225 shares of the industrial products company’s stock valued at $171,000 after buying an additional 92 shares during the last quarter. Lido Advisors LLC increased its stake in Dover by 2.7% in the 3rd quarter. Lido Advisors LLC now owns 3,828 shares of the industrial products company’s stock valued at $534,000 after buying an additional 101 shares during the last quarter. Finally, American Trust increased its stake in Dover by 0.6% in the 3rd quarter. American Trust now owns 18,724 shares of the industrial products company’s stock valued at $2,612,000 after buying an additional 112 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DOV has been the subject of several analyst reports. Citigroup increased their price objective on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Oppenheimer increased their price objective on shares of Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research note on Friday. Wells Fargo & Company raised their price target on shares of Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday. Seaport Res Ptn upgraded shares of Dover from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Finally, StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and an average target price of $185.75.

Insider Buying and Selling at Dover

In other news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now owns 23,909 shares in the company, valued at approximately $3,897,406.09. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now owns 23,909 shares in the company, valued at approximately $3,897,406.09. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stephen M. Todd sold 1,500 shares of the firm’s 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 sale, the director now owns 22,955 shares in the company, 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 in the last three months. Company insiders own 1.30% of the company’s stock.

Dover Stock Performance

DOV traded up $1.06 on Friday, hitting $180.17. The company’s stock had a trading volume of 1,104,050 shares, compared to its average volume of 933,109. The company’s 50 day simple moving average is $171.75 and its 200-day simple moving average is $154.38. 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 Co. has a 12 month low of $127.25 and a 12 month high of $181.49. The firm has a market cap of $24.75 billion, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 1.87 and a beta of 1.27.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, beating the consensus estimate of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.41%. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm earned $1.94 EPS. The business’s quarterly revenue was up .7% compared to the same quarter last year. Analysts forecast that Dover Co. will post 9.1 EPS for the current year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Wednesday, February 28th. Dover’s payout ratio is 19.60%.

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.