First Trust Direct Indexing L.P. Sells 130 Shares of Dover Co. (NYSE:DOV)

First Trust Direct Indexing L.P. trimmed its stake in Dover Co. (NYSE:DOV) by 6.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,879 shares of the industrial products company’s stock after selling 130 shares during the period. First Trust Direct Indexing L.P.’s holdings in Dover were worth $289,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Searle & CO. acquired a new position in Dover during the 4th quarter valued at about $231,000. ICW Investment Advisors LLC increased its holdings in shares of Dover by 2.4% in the fourth quarter. ICW Investment Advisors LLC now owns 10,746 shares of the industrial products company’s stock valued at $1,653,000 after purchasing an additional 250 shares during the period. Certuity LLC purchased a new stake in shares of Dover in the fourth quarter worth about $761,000. Retirement Systems of Alabama boosted its stake in shares of Dover by 2.3% in the fourth quarter. Retirement Systems of Alabama now owns 188,894 shares of the industrial products company’s stock worth $29,054,000 after buying an additional 4,331 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Dover by 47.4% in the fourth quarter. Russell Investments Group Ltd. now owns 110,479 shares of the industrial products company’s stock worth $16,995,000 after buying an additional 35,540 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Dover Stock Performance

Shares of DOV stock opened at $181.83 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 1.31. The firm has a market cap of $24.99 billion, a P/E ratio of 17.47, a P/E/G ratio of 1.84 and a beta of 1.25. The firm’s 50 day moving average price is $174.13 and its 200-day moving average price is $156.52. Dover Co. has a one year low of $127.25 and a one year high of $183.43.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. Dover had a return on equity of 25.04% and a net margin of 17.28%. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the firm earned $1.94 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. As a group, equities research analysts predict that Dover Co. will post 9.1 EPS for the current year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.12%. The ex-dividend date is Friday, May 31st. Dover’s dividend payout ratio is currently 19.60%.

Insiders Place Their Bets

In related news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction that occurred 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 transaction, the chief financial officer now owns 23,909 shares in the company, valued at $3,897,406.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were 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 of the company’s stock, valued at $3,164,699.39. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brad M. Cerepak sold 18,410 shares of the firm’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 transaction of $3,001,014.10. Following the sale, the chief financial officer now directly owns 23,909 shares in the company, valued at approximately $3,897,406.09. The disclosure for this sale can be found here. Insiders have sold 25,910 shares of company stock worth $4,318,059 over the last three months. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank of Canada increased their price target on Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Oppenheimer increased their target price on Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Barclays increased their target price on Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Finally, Seaport Res Ptn raised Dover from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.