Stack Financial Management Inc Trims Stake in Dover Co. (NYSE:DOV)

Stack Financial Management Inc cut its holdings in shares of Dover Co. (NYSE:DOV) by 2.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 84,214 shares of the industrial products company’s stock after selling 1,860 shares during the period. Stack Financial Management Inc’s holdings in Dover were worth $12,953,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. boosted its position in Dover by 160.2% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock valued at $199,319,000 after buying an additional 879,533 shares during the period. Wellington Management Group LLP raised its stake in Dover by 2,173.8% during the third quarter. Wellington Management Group LLP now owns 817,125 shares of the industrial products company’s stock worth $113,997,000 after purchasing an additional 781,189 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 in the last quarter. Nordea Investment Management AB boosted its stake in Dover by 53.1% during the 3rd quarter. Nordea Investment Management AB now owns 528,857 shares of the industrial products company’s stock valued at $74,415,000 after acquiring an additional 183,529 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its position in Dover by 480.7% in the 3rd quarter. Retirement Systems of Alabama now owns 184,563 shares of the industrial products company’s stock valued at $25,748,000 after purchasing an additional 152,778 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Stock Up 1.0 %

Shares of DOV traded up $1.81 on Friday, hitting $180.92. 302,084 shares of the stock traded hands, compared to its average volume of 958,455. 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 Co. has a one year low of $127.25 and a one year high of $181.49. The business has a 50 day simple moving average of $171.37 and a 200 day simple moving average of $154.02. The company has a market capitalization of $24.85 billion, a PE ratio of 23.95, a P/E/G ratio of 1.78 and a beta of 1.27.

Dover (NYSE:DOV) last posted its quarterly earnings results 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 12.52% and a return on equity of 25.95%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the firm posted $1.94 earnings per share. The company’s revenue for the quarter was up .7% on a year-over-year basis. As a group, equities analysts forecast that Dover Co. will post 9.07 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Wednesday, February 28th. Dover’s dividend payout ratio (DPR) is 27.13%.

Insider Buying and Selling at Dover

In other news, CFO Brad M. Cerepak sold 6,000 shares of the 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 sale, the chief financial officer now owns 17,909 shares in the company, valued at $3,164,699.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction 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 transaction, 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 Securities & Exchange Commission, which is available through this link. Also, CFO Brad M. Cerepak sold 6,000 shares of the firm’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 of the company’s stock, valued at approximately $3,164,699.39. The disclosure for this sale can be found here. Insiders have sold a total of 25,910 shares of company stock valued at $4,318,059 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DOV. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Mizuho increased their price objective on Dover from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada boosted their price target on Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Oppenheimer increased their price target on Dover from $177.00 to $187.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Finally, Seaport Res Ptn upgraded Dover from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and an average target price of $181.63.

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.