Ballentine Partners LLC Makes New Investment in Dover Co. (NYSE:DOV)

Ballentine Partners LLC bought a new position in Dover Co. (NYSE:DOV) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 1,597 shares of the industrial products company’s stock, valued at approximately $246,000.

Several other institutional investors have also modified their holdings of DOV. Trust Point Inc. purchased a new position in Dover during the fourth quarter worth about $292,000. Howland Capital Management LLC purchased a new stake in shares of Dover during the 4th quarter valued at approximately $217,000. Oak Thistle LLC acquired a new position in Dover in the fourth quarter valued at approximately $330,000. Norris Perne & French LLP MI purchased a new position in Dover in the fourth quarter worth approximately $211,000. Finally, AdvisorNet Financial Inc raised its position in Dover by 783.3% in the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 188 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Up 0.1 %

Shares of NYSE DOV opened at $176.10 on Tuesday. The stock has a market cap of $24.19 billion, a P/E ratio of 23.42, a PEG ratio of 1.83 and a beta of 1.27. The business’s fifty day simple moving average is $167.86 and its 200-day simple moving average is $151.23. Dover Co. has a 12-month low of $127.25 and a 12-month high of $178.28. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59.

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

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.51 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.16%. Dover’s payout ratio is 27.13%.

Insider Transactions at Dover

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction 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 directly owns 23,909 shares in the company, valued at $3,897,406.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Brad M. Cerepak sold 6,000 shares of the business’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 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 can be accessed through this link. Also, CFO Brad M. Cerepak sold 18,410 shares of the 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 directly owns 23,909 shares in the company, valued at $3,897,406.09. The disclosure for this sale can be found here. In the last three months, insiders sold 25,910 shares of company stock valued at $4,318,059. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

DOV has been the subject of a number of research analyst reports. Citigroup increased their price target on Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Monday. Robert W. Baird boosted their price target on shares of Dover from $175.00 to $185.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Oppenheimer increased their price objective on shares of Dover from $175.00 to $177.00 and gave the stock an “outperform” rating in a research report on Friday, February 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, Wells Fargo & Company upped their price target on Dover from $140.00 to $167.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 19th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $173.60.

Dover Company 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.