Dover Co. (NYSE:DOV) Shares Sold by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC reduced its stake in shares of Dover Co. (NYSE:DOV) by 94.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,295 shares of the industrial products company’s stock after selling 39,449 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Dover were worth $353,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. increased its stake in Dover by 7.2% in the 4th quarter. Vontobel Holding Ltd. now owns 25,421 shares of the industrial products company’s stock valued at $3,910,000 after purchasing an additional 1,718 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Dover by 5.5% in the fourth quarter. Nordea Investment Management AB now owns 557,953 shares of the industrial products company’s stock valued at $85,612,000 after buying an additional 29,096 shares in the last quarter. Vest Financial LLC raised its stake in shares of Dover by 35.7% during the 4th quarter. Vest Financial LLC now owns 202,490 shares of the industrial products company’s stock worth $31,145,000 after buying an additional 53,273 shares during the last quarter. Chartwell Investment Partners LLC boosted its position in shares of Dover by 15.6% in the 3rd quarter. Chartwell Investment Partners LLC now owns 6,733 shares of the industrial products company’s stock worth $939,000 after buying an additional 907 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in Dover by 112.9% in the 4th quarter. SG Americas Securities LLC now owns 11,409 shares of the industrial products company’s stock valued at $1,755,000 after acquiring an additional 6,050 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Performance

Dover stock opened at $177.85 on Thursday. The stock has a fifty day moving average price of $172.50 and a 200 day moving average price of $155.04. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58. Dover Co. has a 52 week low of $127.25 and a 52 week high of $182.33. The firm has a market capitalization of $24.44 billion, a P/E ratio of 17.08, a PEG ratio of 1.85 and a beta of 1.25.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.04%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the firm posted $1.94 EPS. The company’s revenue was up .7% on a year-over-year basis. Equities research analysts anticipate that Dover Co. will post 9.1 earnings per share for the current year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders 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 dividend yield of 1.15%. Dover’s dividend payout ratio is presently 19.60%.

Insider Buying and Selling

In other Dover 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 completion of the sale, the chief financial officer now owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen M. Todd sold 1,500 shares of the firm’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 completion of the transaction, the director now directly owns 22,955 shares in the company, valued at approximately $3,929,666.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,910 shares of company stock valued at $4,318,059. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DOV. Seaport Res Ptn upgraded shares of Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Citigroup upped their target price on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Mizuho upped their price objective on Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Robert W. Baird lifted their price objective on Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.75.

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.