Paladin Advisory Group LLC Sells 79 Shares of Dover Co. (NYSE:DOV)

Paladin Advisory Group LLC decreased its position in Dover Co. (NYSE:DOV) by 22.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 272 shares of the industrial products company’s stock after selling 79 shares during the quarter. Paladin Advisory Group LLC’s holdings in Dover were worth $42,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Dover by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 16,895,470 shares of the industrial products company’s stock valued at $2,650,899,000 after acquiring an additional 224,091 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of Dover by 1.9% during the 2nd quarter. Macquarie Group Ltd. now owns 3,314,537 shares of the industrial products company’s stock valued at $402,119,000 after purchasing an additional 61,298 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Dover by 1.8% in the first quarter. Geode Capital Management LLC now owns 2,893,220 shares of the industrial products company’s stock valued at $438,594,000 after acquiring an additional 51,836 shares during the period. FMR LLC grew its holdings in Dover by 10.5% during the 3rd quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock valued at $333,522,000 after purchasing an additional 226,646 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Dover by 14.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,177,064 shares of the industrial products company’s stock worth $330,785,000 after acquiring an additional 274,713 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DOV. Seaport Res Ptn raised shares of Dover from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Oppenheimer upped their target price on Dover from $177.00 to $187.00 and gave the stock an “outperform” rating in a report on Thursday. StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Citigroup upped their price objective 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, Robert W. Baird raised their target price 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. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and an average target price of $175.13.

Insider Activity at Dover

In other news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the sale, the chief financial officer now owns 23,909 shares in the company, valued at $3,897,406.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the transaction, the chief financial officer now owns 23,909 shares in the company, valued at approximately $3,897,406.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $256,785.00. Following the sale, the director now directly owns 22,955 shares in the company, valued at $3,929,666.45. The disclosure for this sale can be found here. Insiders have sold 25,910 shares of company stock valued at $4,318,059 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Dover Stock Up 0.7 %

DOV traded up $1.23 on Friday, hitting $169.84. The company had a trading volume of 1,207,451 shares, compared to its average volume of 947,624. The stock has a market capitalization of $23.33 billion, a price-to-earnings ratio of 22.59, a P/E/G ratio of 1.76 and a beta of 1.27. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40. The stock has a fifty day moving average price of $170.23 and a 200-day moving average price of $152.82. Dover Co. has a 12-month low of $127.25 and a 12-month high of $178.28.

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

Dover Dividend Announcement

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

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.