Patrick M Sweeney & Associates Inc. Makes New Investment in Dover Co. (NYSE:DOV)

Patrick M Sweeney & Associates Inc. purchased a new stake in shares of Dover Co. (NYSE:DOV) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 1,330 shares of the industrial products company’s stock, valued at approximately $205,000.

Several other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of Dover by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 781,721 shares of the industrial products company’s stock worth $120,237,000 after purchasing an additional 14,570 shares during the last quarter. Apollon Wealth Management LLC lifted its holdings in shares of Dover by 12.7% during the 4th quarter. Apollon Wealth Management LLC now owns 7,084 shares of the industrial products company’s stock worth $1,090,000 after acquiring an additional 800 shares during the last quarter. Lincoln National Corp grew its position in Dover by 2.3% in the fourth quarter. Lincoln National Corp now owns 3,624 shares of the industrial products company’s stock worth $558,000 after acquiring an additional 83 shares in the last quarter. Machina Capital S.A.S. increased its stake in Dover by 27.0% in the fourth quarter. Machina Capital S.A.S. now owns 3,557 shares of the industrial products company’s stock valued at $547,000 after acquiring an additional 757 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC purchased a new stake in Dover during the fourth quarter valued at about $1,362,000. Institutional investors own 84.46% of the company’s stock.

Dover Trading Up 0.1 %

NYSE:DOV traded up $0.10 during mid-day trading on Tuesday, reaching $181.83. 647,959 shares of the company’s stock traded hands, compared to its average volume of 989,113. The company has a 50 day moving average price of $173.78 and a 200-day moving average price of $156.19. The firm has a market capitalization of $24.99 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 1.84 and a beta of 1.25. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.89. Dover Co. has a 12-month low of $127.25 and a 12-month high of $183.43.

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

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Friday, May 31st. Dover’s payout ratio is 19.60%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DOV. Robert W. Baird increased their price objective on Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Wells Fargo & Company lifted their price target on shares of Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Royal Bank of Canada upped their price objective on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Oppenheimer lifted their target price on shares of Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Barclays upped their price target 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. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $185.75.

Insider Activity at Dover

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction that occurred on 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 directly owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction 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 sale, 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 SEC, which is accessible through this link. Also, CFO Brad M. Cerepak sold 6,000 shares of the company’s stock in a transaction dated 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 directly owns 17,909 shares in the company, valued at $3,164,699.39. The disclosure for this sale can be found here. Insiders have sold 25,910 shares of company stock worth $4,318,059 over the last 90 days. 1.30% of the stock is owned by company insiders.

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.