Dover Co. (NYSE:DOV) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. decreased its position in shares of Dover Co. (NYSE:DOV) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 375,483 shares of the industrial products company’s stock after selling 858 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.27% of Dover worth $57,753,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Dover by 1.3% during the first quarter. Vanguard Group Inc. now owns 16,895,470 shares of the industrial products company’s stock worth $2,650,899,000 after purchasing an additional 224,091 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Dover by 1.9% during the 2nd quarter. Macquarie Group Ltd. now owns 3,314,537 shares of the industrial products company’s stock worth $402,119,000 after buying an additional 61,298 shares in the last quarter. Geode Capital Management LLC boosted its position in Dover by 1.8% in the 1st quarter. Geode Capital Management LLC now owns 2,893,220 shares of the industrial products company’s stock valued at $438,594,000 after buying an additional 51,836 shares during the period. FMR LLC grew its stake in shares of Dover by 10.5% in the third quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock worth $333,522,000 after acquiring an additional 226,646 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Dover by 14.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,177,064 shares of the industrial products company’s stock worth $330,785,000 after acquiring an additional 274,713 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on DOV. Seaport Res Ptn upgraded Dover from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Royal Bank of Canada boosted their price objective on Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Robert W. Baird raised 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. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Finally, Citigroup raised their price objective on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 8th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Dover has an average rating of “Moderate Buy” and a consensus target price of $175.13.

Dover Stock Down 0.5 %

Shares of NYSE:DOV opened at $168.61 on Friday. 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 has a 50 day simple moving average of $170.23 and a 200-day simple moving average of $152.82. The company has a market capitalization of $23.16 billion, a PE ratio of 22.42, a P/E/G ratio of 1.78 and a beta of 1.27. Dover Co. has a twelve month low of $127.25 and a twelve month high of $178.28.

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

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Wednesday, February 28th. Dover’s dividend payout ratio is currently 27.13%.

Insider Activity

In other 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 transaction, 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other Dover news, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $171.19, for a total value of $256,785.00. Following the transaction, the director now directly owns 22,955 shares in the company, valued at approximately $3,929,666.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brad M. Cerepak sold 18,410 shares of the company’s stock in a transaction that occurred on 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 owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,910 shares of company stock valued at $4,318,059. 1.30% of the stock is currently owned by company insiders.

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.