Welch & Forbes LLC Has $25.53 Million Stock Holdings in Dover Co. (NYSE:DOV)

Welch & Forbes LLC reduced its stake in Dover Co. (NYSE:DOV) by 0.9% during the 4th quarter, Holdings Channel reports. The firm owned 165,999 shares of the industrial products company’s stock after selling 1,560 shares during the period. Welch & Forbes LLC’s holdings in Dover were worth $25,532,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Orion Capital Management LLC bought a new stake in shares of Dover in the 3rd quarter valued at about $32,000. Headinvest LLC acquired a new stake in Dover in the third quarter worth $32,000. Exchange Traded Concepts LLC acquired a new position in shares of Dover in the 4th quarter valued at $33,000. AdvisorNet Financial Inc increased its position in shares of Dover by 783.3% in the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after buying an additional 188 shares in the last quarter. Finally, Life Planning Partners Inc acquired a new stake in Dover during the 4th quarter worth $35,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DOV. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Company upped their price target on shares of Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Barclays raised their price objective on shares of Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Citigroup upped their target price on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Oppenheimer boosted their price target on Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $185.75.

Dover Stock Up 1.5 %

Shares of NYSE:DOV traded up $2.74 during midday trading on Monday, reaching $181.73. The company had a trading volume of 640,126 shares, compared to its average volume of 992,995. The business’s 50 day moving average price is $173.44 and its 200 day moving average price is $155.86. Dover Co. has a 1-year low of $127.25 and a 1-year high of $182.33. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The stock has a market cap of $24.98 billion, a PE ratio of 17.19, a P/E/G ratio of 1.84 and a beta of 1.25.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Dover had a return on equity of 25.04% and a net margin of 17.28%. The business’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.94 EPS. Research analysts forecast that Dover Co. will post 9.1 EPS for the current fiscal year.

Dover Announces Dividend

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

Insider Buying and Selling

In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total value of $1,060,260.00. Following the sale, the chief financial officer now owns 17,909 shares in the company, valued at $3,164,699.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Stephen M. Todd sold 1,500 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the transaction, the director now owns 22,955 shares in the company, valued at approximately $3,929,666.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total value of $1,060,260.00. Following the sale, the chief financial officer now owns 17,909 shares of the company’s stock, valued at approximately $3,164,699.39. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,910 shares of company stock worth $4,318,059. Company insiders own 1.30% of the company’s stock.

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.