Dover Co. (NYSE:DOV) Shares Sold by Spire Wealth Management

Spire Wealth Management lessened its position in shares of Dover Co. (NYSE:DOV) by 95.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,963 shares of the industrial products company’s stock after selling 37,466 shares during the quarter. Spire Wealth Management’s holdings in Dover were worth $348,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. grew its position in Dover by 7.2% during the fourth quarter. Vontobel Holding Ltd. now owns 25,421 shares of the industrial products company’s stock valued at $3,910,000 after buying an additional 1,718 shares during the period. Nordea Investment Management AB grew its position in shares of Dover by 5.5% in the fourth quarter. Nordea Investment Management AB now owns 557,953 shares of the industrial products company’s stock valued at $85,612,000 after purchasing an additional 29,096 shares during the period. Vest Financial LLC grew its position in shares of Dover by 35.7% in the fourth quarter. Vest Financial LLC now owns 202,490 shares of the industrial products company’s stock valued at $31,145,000 after purchasing an additional 53,273 shares during the period. Chartwell Investment Partners LLC grew its position in shares of Dover by 15.6% in the third quarter. Chartwell Investment Partners LLC now owns 6,733 shares of the industrial products company’s stock valued at $939,000 after purchasing an additional 907 shares during the period. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Dover in the fourth quarter valued at about $1,077,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Activity

In other news, Director Stephen M. Todd sold 1,500 shares of the business’s 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 sale, 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 is available through this hyperlink. In other Dover 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 sale, the director now directly owns 22,955 shares in the company, valued at approximately $3,929,666.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction that occurred on 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 owns 17,909 shares in the company, valued at $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. Company insiders own 1.30% of the company’s stock.

Dover Trading Up 0.5 %

DOV stock traded up $0.98 during trading on Tuesday, reaching $186.06. 505,245 shares of the stock were exchanged, compared to its average volume of 976,876. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average price of $177.23 and a 200-day moving average price of $160.30. Dover Co. has a 1 year low of $127.25 and a 1 year high of $186.50. The firm has a market capitalization of $25.57 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 1.89 and a beta of 1.25.

Dover (NYSE:DOV) last released its quarterly earnings results 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. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.03 billion. Dover had a net margin of 17.28% and a return on equity of 25.04%. The business’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.94 EPS. On average, research analysts predict that Dover Co. will post 9.1 earnings per share for the current year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, May 31st. Dover’s dividend payout ratio (DPR) is 19.60%.

Analysts Set New Price Targets

Several analysts have recently issued reports on DOV shares. Mizuho lifted their target price on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Robert W. Baird lifted their target price on shares of Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Barclays lifted their target price on shares of Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Royal Bank of Canada boosted their price target on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Finally, Citigroup boosted their price target on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $185.75.

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.