Norges Bank Takes Position in Dover Co. (NYSE:DOV)

Norges Bank acquired a new position in Dover Co. (NYSE:DOVFree Report) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 1,139,557 shares of the industrial products company’s stock, valued at approximately $175,275,000.

Several other institutional investors have also recently added to or reduced their stakes in DOV. Orion Capital Management LLC acquired a new position in shares of Dover in the 3rd quarter valued at about $32,000. Headinvest LLC bought a new position in shares of Dover during the third quarter valued at approximately $32,000. Exchange Traded Concepts LLC acquired a new stake in shares of Dover during the 4th quarter worth approximately $33,000. AdvisorNet Financial Inc lifted its holdings in shares of Dover by 783.3% in the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 188 shares during the last quarter. Finally, Life Planning Partners Inc bought a new position in Dover during the 4th quarter worth $35,000. Institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Mizuho raised their price target on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Wells Fargo & Company boosted their price objective on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Royal Bank of Canada raised their target price on Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Finally, Seaport Res Ptn raised Dover from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Dover has an average rating of “Moderate Buy” and a consensus price target of $185.75.

Check Out Our Latest Stock Analysis on DOV

Dover Stock Up 0.8 %

Shares of DOV stock opened at $187.56 on Thursday. Dover Co. has a 1 year low of $127.25 and a 1 year high of $187.80. 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 business’s fifty day moving average is $177.43 and its 200-day moving average is $160.49. The stock has a market cap of $25.78 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 2.31 and a beta of 1.25.

Dover (NYSE:DOVGet Free Report) last released its earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (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 firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the company earned $1.94 earnings per share. Dover’s revenue was up .7% compared to the same quarter last year. Equities analysts expect that Dover Co. will post 9.1 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Friday, May 31st. Dover’s payout ratio is 19.60%.

Insiders Place Their Bets

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 completion of the sale, 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 available through this hyperlink. In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the business’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 sale, the chief financial officer now owns 17,909 shares in the company, valued at approximately $3,164,699.39. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brad M. Cerepak sold 18,410 shares of Dover 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 completion of the transaction, the chief financial officer now directly owns 23,909 shares in the company, valued at $3,897,406.09. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,910 shares of company stock worth $4,318,059. 1.30% of the stock is owned by insiders.

About Dover

(Free Report)

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.

See Also

Want to see what other hedge funds are holding DOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dover Co. (NYSE:DOVFree Report).

Institutional Ownership by Quarter for Dover (NYSE:DOV)

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