DekaBank Deutsche Girozentrale Sells 3,220 Shares of Dover Co. (NYSE:DOV)

DekaBank Deutsche Girozentrale trimmed its holdings in Dover Co. (NYSE:DOV) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,966 shares of the industrial products company’s stock after selling 3,220 shares during the period. DekaBank Deutsche Girozentrale owned about 0.06% of Dover worth $13,373,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. CX Institutional lifted its holdings in shares of Dover by 1.5% in the fourth quarter. CX Institutional now owns 4,933 shares of the industrial products company’s stock valued at $759,000 after purchasing an additional 72 shares in the last quarter. First Commonwealth Financial Corp PA lifted its stake in Dover by 2.6% during the 4th quarter. First Commonwealth Financial Corp PA now owns 3,176 shares of the industrial products company’s stock valued at $430,000 after acquiring an additional 80 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Dover by 0.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,076 shares of the industrial products company’s stock valued at $2,801,000 after acquiring an additional 83 shares in the last quarter. Kinneret Advisory LLC lifted its stake in Dover by 2.3% during the 1st quarter. Kinneret Advisory LLC now owns 3,715 shares of the industrial products company’s stock valued at $583,000 after acquiring an additional 84 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its position in shares of Dover by 8.1% during the third quarter. Lindbrook Capital LLC now owns 1,225 shares of the industrial products company’s stock valued at $171,000 after purchasing an additional 92 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Insider Transactions at Dover

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the 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 sale, the chief financial officer now directly owns 23,909 shares in the company, valued at approximately $3,897,406.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Stephen M. Todd sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the sale, the director now directly owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brad M. Cerepak sold 18,410 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,910 shares of company stock valued at $4,318,059. 1.30% of the stock is currently owned by corporate insiders.

Dover Stock Performance

NYSE DOV opened at $176.10 on Tuesday. The firm has a market cap of $24.19 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 1.83 and a beta of 1.27. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $167.86 and its 200-day moving average is $151.23. Dover Co. has a 12-month low of $127.25 and a 12-month high of $178.28.

Dover (NYSE:DOV) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.01. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.16 billion. Dover had a return on equity of 25.95% and a net margin of 12.52%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.16 earnings per share. Sell-side analysts predict that Dover Co. will post 9.06 earnings per share for the current year.

Dover Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on DOV shares. Robert W. Baird raised their price target on shares of Dover from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Royal Bank of Canada lifted their target price on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Oppenheimer lifted their price target on Dover from $175.00 to $177.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Barclays lifted their target price on Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Finally, Wells Fargo & Company increased their price target on shares of Dover from $140.00 to $167.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 19th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $173.60.

About Dover

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.