Wolverine Asset Management LLC Invests $1.08 Million in Dover Co. (NYSE:DOV)

Wolverine Asset Management LLC purchased a new stake in Dover Co. (NYSE:DOV) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,000 shares of the industrial products company’s stock, valued at approximately $1,077,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. boosted its holdings in Dover by 7.2% in the fourth 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 boosted its holdings 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 acquiring an additional 29,096 shares during the period. Vest Financial LLC boosted its holdings in shares of Dover by 35.7% in the fourth quarter. Vest Financial LLC now owns 202,490 shares of the industrial products company’s stock valued at $31,145,000 after acquiring an additional 53,273 shares during the period. Chartwell Investment Partners LLC boosted its holdings in shares of Dover by 15.6% in the third quarter. Chartwell Investment Partners LLC now owns 6,733 shares of the industrial products company’s stock valued at $939,000 after acquiring an additional 907 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Dover by 112.9% in the fourth 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 period. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Trading Up 4.5 %

Shares of DOV stock opened at $179.07 on Friday. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week high of $181.49. The stock has a market cap of $24.60 billion, a P/E ratio of 23.81, a P/E/G ratio of 1.78 and a beta of 1.27. The business has a fifty day simple moving average of $171.37 and a 200-day simple moving average of $154.02. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 0.59.

Dover (NYSE:DOV) last posted its quarterly earnings data 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 business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 25.95% and a net margin of 12.52%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the company earned $1.94 earnings per share. On average, analysts forecast that Dover Co. will post 9.07 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently disclosed 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. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Wednesday, February 28th. Dover’s payout ratio is currently 27.13%.

Insider Activity at Dover

In related 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 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 filing with the SEC, which can be accessed through this hyperlink. In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was 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 of the company’s stock, valued at approximately $3,897,406.09. The sale was disclosed in a filing with the SEC, which can be accessed 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 value 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 a total of 25,910 shares of company stock valued at $4,318,059 over the last quarter. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DOV. Barclays increased their price objective on Dover from $163.00 to $180.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. Royal Bank of Canada upped their price target on Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Seaport Res Ptn upgraded Dover from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Citigroup upped their price target on Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Oppenheimer upped their price target on Dover from $177.00 to $187.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Dover has an average rating of “Moderate Buy” and a consensus price target of $178.00.

Dover Company 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.