Stock Yards Bank & Trust Co. Grows Stock Holdings in Dover Co. (NYSE:DOV)

Stock Yards Bank & Trust Co. increased its stake in shares of Dover Co. (NYSE:DOV) by 7.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,377 shares of the industrial products company’s stock after acquiring an additional 1,741 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Dover were worth $4,057,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CX Institutional raised its stake in Dover by 1.5% during the 4th quarter. CX Institutional now owns 4,933 shares of the industrial products company’s stock worth $759,000 after acquiring an additional 72 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Dover by 0.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,076 shares of the industrial products company’s stock valued at $2,801,000 after purchasing an additional 83 shares during the period. Lindbrook Capital LLC increased its stake in Dover by 8.1% in the third quarter. Lindbrook Capital LLC now owns 1,225 shares of the industrial products company’s stock valued at $171,000 after purchasing an additional 92 shares during the period. Lido Advisors LLC increased its stake in Dover by 2.7% in the third quarter. Lido Advisors LLC now owns 3,828 shares of the industrial products company’s stock valued at $534,000 after purchasing an additional 101 shares during the period. Finally, JGP Wealth Management LLC increased its stake in Dover by 1.1% in the third quarter. JGP Wealth Management LLC now owns 9,918 shares of the industrial products company’s stock valued at $1,384,000 after purchasing an additional 109 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Trading Up 0.3 %

Shares of DOV opened at $170.28 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59. The firm’s 50-day moving average is $170.59 and its two-hundred day moving average is $153.48. Dover Co. has a twelve month low of $127.25 and a twelve month high of $178.28. The firm has a market capitalization of $23.39 billion, a P/E ratio of 22.64, a PEG ratio of 1.76 and a beta of 1.27.

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

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given 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 payout ratio is currently 27.13%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on DOV shares. Seaport Res Ptn upgraded shares of Dover from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Oppenheimer lifted their target price on shares of Dover from $177.00 to $187.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Royal Bank of Canada lifted their target price on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Finally, Robert W. Baird lifted their target price on shares of Dover from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and an average price target of $175.13.

Insiders Place Their Bets

In other news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total value of $3,001,014.10. Following the sale, the chief financial officer now directly owns 23,909 shares in the company, valued at $3,897,406.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total value of $3,001,014.10. Following the sale, the chief financial officer now directly owns 23,909 shares in the company, valued at $3,897,406.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were 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 in the company, valued at $3,164,699.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,910 shares of company stock worth $4,318,059. 1.30% of the stock is owned by company insiders.

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.