First Trust Advisors LP Reduces Stock Position in Dover Co. (NYSE:DOV)

First Trust Advisors LP lowered its holdings in shares of Dover Co. (NYSE:DOV – Get Rating) by 77.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 141,161 shares of the industrial products company’s stock after selling 477,105 shares during the quarter. First Trust Advisors LP’s holdings in Dover were worth $19,116,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of DOV. Ellevest Inc. boosted its holdings in Dover by 47.0% during the 3rd quarter. Ellevest Inc. now owns 244 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 78 shares during the period. U.S. Capital Wealth Advisors LLC bought a new stake in Dover during the 4th quarter valued at $29,000. Glass Jacobson Investment Advisors llc bought a new stake in Dover during the 4th quarter valued at $31,000. Concord Wealth Partners bought a new stake in Dover during the 4th quarter valued at $41,000. Finally, Fairfield Bush & CO. bought a new stake in Dover during the 1st quarter valued at $48,000. Hedge funds and other institutional investors own 85.52% of the company’s stock.

Wall Street Analysts Forecast Growth

DOV has been the subject of a number of research analyst reports. Credit Suisse Group reaffirmed an “outperform” rating and set a $174.00 target price on shares of Dover in a research report on Thursday, March 9th. Bank of America boosted their price target on Dover from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, April 11th. Barclays reduced their price target on Dover from $141.00 to $138.00 and set an “equal weight” rating for the company in a research report on Thursday, April 6th. 92 Resources reissued a “maintains” rating on shares of Dover in a research report on Thursday, April 27th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Dover from $147.00 to $145.00 and set a “hold” rating for the company in a research report on Wednesday, April 12th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus price target of $162.31.

Insider Transactions at Dover

In other news, CFO Brad M. Cerepak sold 34,972 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $143.25, for a total value of $5,009,739.00. Following the sale, the chief financial officer now owns 73,878 shares in the company, valued at $10,583,023.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.30% of the company’s stock.

Dover Stock Down 1.0 %

Dover stock opened at $139.47 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 1.32. The business’s 50-day simple moving average is $143.79 and its two-hundred day simple moving average is $143.45. The company has a market cap of $19.50 billion, a PE ratio of 18.60, a PEG ratio of 1.11 and a beta of 1.35. Dover Co. has a fifty-two week low of $114.49 and a fifty-two week high of $160.66.

Dover (NYSE:DOV – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $1.94 earnings per share for the quarter, meeting the consensus estimate of $1.94. The business had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.08 billion. Dover had a return on equity of 28.27% and a net margin of 12.51%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.90 EPS. Equities analysts anticipate that Dover Co. will post 8.99 EPS for the current year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be paid a $0.505 dividend. The ex-dividend date is Tuesday, May 30th. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.45%. Dover’s payout ratio is 26.93%.

Dover Company Profile

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Dover Corp. operates as a manufacturer and solutions provider delivering innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services. It operates through the following segments: Engineered Products, Clean Energy and Fueling, Imaging and Identification, Pumps and Process Solutions, and Climate and Sustainability Technologies.