Wells Fargo & Company MN cut its holdings in Dover Co. (NYSE:DOV) by 3.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,276,124 shares of the industrial products company’s stock after selling 132,621 shares during the quarter. Wells Fargo & Company MN owned approximately 2.12% of Dover worth $321,781,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in DOV. Bank of Montreal Can increased its stake in shares of Dover by 188.6% in the fourth quarter. Bank of Montreal Can now owns 275,793 shares of the industrial products company’s stock valued at $27,852,000 after buying an additional 180,227 shares in the last quarter. National Pension Service increased its stake in shares of Dover by 2.5% in the fourth quarter. National Pension Service now owns 170,691 shares of the industrial products company’s stock valued at $17,238,000 after buying an additional 4,182 shares in the last quarter. Creative Planning increased its stake in shares of Dover by 0.5% in the fourth quarter. Creative Planning now owns 196,491 shares of the industrial products company’s stock valued at $19,844,000 after buying an additional 1,022 shares in the last quarter. DAVENPORT & Co LLC acquired a new stake in shares of Dover in the fourth quarter valued at $255,000. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Dover by 3.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 605,813 shares of the industrial products company’s stock valued at $61,182,000 after buying an additional 19,389 shares in the last quarter. Institutional investors own 89.54% of the company’s stock.
A number of analysts have recently weighed in on DOV shares. BMO Capital Markets restated a “buy” rating on shares of Dover in a research note on Friday, January 26th. Zacks Investment Research upgraded Dover from a “hold” rating to a “buy” rating and set a $116.00 target price for the company in a research note on Friday, January 19th. Seaport Global Securities restated a “hold” rating and issued a $110.00 target price on shares of Dover in a research note on Friday, February 2nd. Stifel Nicolaus lowered their target price on Dover from $115.00 to $102.00 and set a “hold” rating for the company in a research note on Monday, April 16th. Finally, SunTrust Banks raised their target price on Dover to $106.00 and gave the company a “hold” rating in a research note on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $104.92.
In related news, SVP Patrick Burns bought 510 shares of the firm’s stock in a transaction dated Friday, March 2nd. The stock was bought at an average cost of $97.51 per share, for a total transaction of $49,730.10. Following the transaction, the senior vice president now owns 1,883 shares of the company’s stock, valued at $183,611.33. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Anthony K. Kosinski sold 895 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $104.34, for a total value of $93,384.30. Following the transaction, the vice president now owns 8,516 shares of the company’s stock, valued at $888,559.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,897 shares of company stock valued at $2,031,745. Corporate insiders own 2.50% of the company’s stock.
Shares of DOV stock opened at $77.60 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.42 and a quick ratio of 0.95. The stock has a market capitalization of $11.90 billion, a P/E ratio of 17.14, a PEG ratio of 1.01 and a beta of 1.32. Dover Co. has a 12 month low of $77.19 and a 12 month high of $77.85.
Dover (NYSE:DOV) last announced its quarterly earnings data on Friday, April 27th. The industrial products company reported $1.16 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.03. The firm had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.89 billion. Dover had a return on equity of 16.48% and a net margin of 9.71%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the company earned $1.09 earnings per share. equities analysts anticipate that Dover Co. will post 5.86 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Thursday, May 31st will be given a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $1.88 dividend on an annualized basis and a yield of 2.42%. Dover’s payout ratio is 46.65%.
Dover Company Profile
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.
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