Zurcher Kantonalbank Zurich Cantonalbank Buys 10,294 Shares of Dover Co. (NYSE:DOV)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Dover Co. (NYSE:DOV) by 18.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,149 shares of the industrial products company’s stock after purchasing an additional 10,294 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Dover were worth $10,021,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in DOV. Vontobel Holding Ltd. grew its holdings in Dover by 7.2% during the 4th quarter. Vontobel Holding Ltd. now owns 25,421 shares of the industrial products company’s stock valued at $3,910,000 after buying an additional 1,718 shares in the last quarter. Nordea Investment Management AB grew 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 purchasing an additional 29,096 shares in the last quarter. Vest Financial LLC increased its position in Dover by 35.7% in the fourth quarter. Vest Financial LLC now owns 202,490 shares of the industrial products company’s stock worth $31,145,000 after purchasing an additional 53,273 shares during the last quarter. Chartwell Investment Partners LLC raised its stake in Dover by 15.6% during the third quarter. Chartwell Investment Partners LLC now owns 6,733 shares of the industrial products company’s stock valued at $939,000 after purchasing an additional 907 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in Dover by 112.9% during 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 purchasing an additional 6,050 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Activity at Dover

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 document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were 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 of the company’s stock, valued at $3,897,406.09. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brad M. Cerepak sold 6,000 shares of the company’s stock in a transaction 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 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 in the last ninety days. Company insiders own 1.30% of the company’s stock.

Dover Trading Up 0.7 %

NYSE DOV opened at $169.84 on Friday. Dover Co. has a one year low of $127.25 and a one year high of $178.28. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40. The company has a market capitalization of $23.33 billion, a price-to-earnings ratio of 22.59, a price-to-earnings-growth ratio of 1.76 and a beta of 1.27. The company’s 50-day simple moving average is $170.42 and its two-hundred day simple moving average is $153.04.

Dover (NYSE:DOV) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $2.16 billion. During the same period in the previous year, the company posted $2.16 earnings per share. The firm’s revenue was down 1.5% on a year-over-year basis. Equities analysts forecast that Dover Co. will post 9.06 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.04 annualized dividend and a dividend yield of 1.20%. Dover’s payout ratio is currently 27.13%.

Wall Street Analysts Forecast Growth

Several research firms have commented on DOV. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Citigroup lifted their price target on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Barclays increased their price objective on shares of Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada boosted 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, Robert W. Baird raised their price target on Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Four 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 has a consensus rating of “Moderate Buy” and an average target price 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.