Commerce Bank Raises Stake in Dover Co. (NYSE:DOV)

Commerce Bank raised its holdings in Dover Co. (NYSE:DOV) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 55,719 shares of the industrial products company’s stock after purchasing an additional 2,530 shares during the quarter. Commerce Bank’s holdings in Dover were worth $8,570,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Signaturefd LLC increased its holdings in shares of Dover by 11.8% in the third quarter. Signaturefd LLC now owns 3,614 shares of the industrial products company’s stock valued at $504,000 after purchasing an additional 381 shares during the period. Syon Capital LLC purchased a new position in Dover during the 3rd quarter worth $244,000. NBC Securities Inc. acquired a new stake in shares of Dover in the 3rd quarter worth $418,000. Ieq Capital LLC boosted its holdings in shares of Dover by 11.3% in the third quarter. Ieq Capital LLC now owns 5,824 shares of the industrial products company’s stock valued at $813,000 after acquiring an additional 589 shares in the last quarter. Finally, Lincoln National Corp increased its stake in shares of Dover by 8.1% during the third quarter. Lincoln National Corp now owns 3,541 shares of the industrial products company’s stock worth $494,000 after acquiring an additional 266 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Price Performance

DOV stock traded down $0.10 on Friday, reaching $184.18. The company had a trading volume of 761,527 shares, compared to its average volume of 1,029,550. The company’s fifty day moving average is $177.79 and its 200 day moving average is $161.02. The company has a market cap of $25.31 billion, a P/E ratio of 17.69, a PEG ratio of 2.28 and a beta of 1.25. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 1.31. Dover Co. has a 1 year low of $127.25 and a 1 year high of $187.80.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 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 analyst estimates of $2.03 billion. Dover had a return on equity of 25.04% and a net margin of 17.28%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $1.94 earnings per share. On average, research analysts forecast that Dover Co. will post 9.1 earnings per share for the current year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.04 annualized dividend and a yield of 1.11%. Dover’s payout ratio is currently 19.60%.

Insider Buying and Selling at Dover

In other Dover news, Director Stephen M. Todd sold 1,500 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Brad M. Cerepak sold 6,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 17,909 shares in the company, valued at approximately $3,164,699.39. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was 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 of the company’s stock, valued at approximately $3,929,666.45. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Mizuho lifted their price objective on Dover from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, April 26th. Oppenheimer raised their target price on Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Royal Bank of Canada upped their price target on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Wells Fargo & Company increased 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. Finally, 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 report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $185.75.

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.