Dover Co. (NYSE:DOV) Shares Sold by Court Place Advisors LLC

Court Place Advisors LLC reduced its stake in shares of Dover Co. (NYSE:DOV) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,484 shares of the industrial products company’s stock after selling 299 shares during the period. Court Place Advisors LLC’s holdings in Dover were worth $2,382,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new position in shares of Dover in the 3rd quarter worth about $32,000. Headinvest LLC bought a new position in shares of Dover in the 3rd quarter worth about $32,000. Exchange Traded Concepts LLC bought a new position in shares of Dover in the 4th quarter worth about $33,000. AdvisorNet Financial Inc lifted 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 worth $33,000 after buying an additional 188 shares during the last quarter. Finally, Life Planning Partners Inc bought a new stake in Dover in the 4th quarter valued at about $35,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Price Performance

Shares of DOV stock traded down $1.66 during midday trading on Wednesday, reaching $169.50. 1,017,845 shares of the company were exchanged, compared to its average volume of 943,934. Dover Co. has a 12 month low of $127.25 and a 12 month high of $178.28. The company has a market cap of $23.29 billion, a P/E ratio of 22.54, a PEG ratio of 1.77 and a beta of 1.27. The company’s 50 day moving average price is $170.06 and its two-hundred day moving average price is $152.71. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.01. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Dover had a net margin of 12.52% and a return on equity of 25.95%. The business’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 EPS. On average, sell-side analysts expect that Dover Co. will post 9.06 earnings per share for the current year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.51 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $2.04 annualized dividend and a dividend yield of 1.20%. Dover’s dividend payout ratio is currently 27.13%.

Insider Buying and Selling at Dover

In other news, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total value of $1,060,260.00. Following the completion of the sale, the chief financial officer now directly owns 17,909 shares in the company, valued at $3,164,699.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 22,955 shares in the company, valued at $3,929,666.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The disclosure for this sale can be found here. Insiders sold 25,910 shares of company stock worth $4,318,059 over the last ninety days. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

DOV has been the topic of several recent research reports. Oppenheimer lifted their price objective on shares of Dover from $175.00 to $177.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Citigroup lifted their price objective on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Robert W. Baird lifted their price objective on shares of Dover from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. StockNews.com downgraded shares of Dover from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, Seaport Res Ptn upgraded shares of Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.88.

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.