Dover Co. (NYSE:DOV) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd decreased its holdings in Dover Co. (NYSE:DOV) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,734 shares of the industrial products company’s stock after selling 342 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Dover were worth $3,035,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in DOV. Adage Capital Partners GP L.L.C. grew its position in Dover by 160.2% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock worth $199,319,000 after purchasing an additional 879,533 shares in the last quarter. Wellington Management Group LLP grew its position in Dover by 2,173.8% during the 3rd 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 in the last quarter. FMR LLC grew its position in Dover by 10.5% during the 3rd quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock worth $333,522,000 after purchasing an additional 226,646 shares in the last quarter. Nordea Investment Management AB grew its position 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 worth $74,415,000 after purchasing an additional 183,529 shares in the last quarter. Finally, Retirement Systems of Alabama grew its position in Dover by 480.7% during the 3rd quarter. Retirement Systems of Alabama now owns 184,563 shares of the industrial products company’s stock worth $25,748,000 after purchasing an additional 152,778 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Activity at Dover

In related news, CFO Brad M. Cerepak sold 18,410 shares of Dover 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 approximately $3,897,406.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Brad M. Cerepak sold 6,000 shares of Dover stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total value of $1,060,260.00. Following the transaction, the chief financial officer now owns 17,909 shares in the company, valued at approximately $3,164,699.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brad M. Cerepak sold 18,410 shares of Dover 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 completion of the transaction, the chief financial officer now owns 23,909 shares in the company, valued at approximately $3,897,406.09. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,910 shares of company stock valued at $4,318,059. Insiders own 1.30% of the company’s stock.

Dover Stock Up 1.1 %

DOV stock opened at $172.19 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59. Dover Co. has a 1 year low of $127.25 and a 1 year high of $178.28. The company has a fifty day simple moving average of $170.83 and a 200 day simple moving average of $153.72. The firm has a market cap of $23.65 billion, a PE ratio of 22.90, a PEG ratio of 1.76 and a beta of 1.27.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the business earned $2.16 EPS. Dover’s quarterly revenue was down 1.5% compared to the same quarter last year. Sell-side analysts anticipate that Dover Co. will post 9.06 EPS for the current fiscal year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Wednesday, February 28th. Dover’s payout ratio is presently 27.13%.

Analysts Set New Price Targets

Several equities analysts have weighed in on DOV shares. Royal Bank of Canada lifted their price objective on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Citigroup lifted their price objective on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Seaport Res Ptn raised shares of Dover from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Oppenheimer lifted their target price on shares of Dover from $177.00 to $187.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. 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 research note on Thursday, March 28th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.13.

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.