Ingalls & Snyder LLC Decreases Holdings in Dover Co. (NYSE:DOV)

Ingalls & Snyder LLC reduced its stake in Dover Co. (NYSE:DOV) by 5.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,270 shares of the industrial products company’s stock after selling 188 shares during the quarter. Ingalls & Snyder LLC’s holdings in Dover were worth $503,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Nordea Investment Management AB grew its position in shares of Dover by 5.5% during the 4th quarter. Nordea Investment Management AB now owns 557,953 shares of the industrial products company’s stock valued at $85,612,000 after acquiring an additional 29,096 shares during the period. 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 buying an additional 53,273 shares during the last quarter. Chartwell Investment Partners LLC raised its stake in shares of Dover by 15.6% in the third quarter. Chartwell Investment Partners LLC now owns 6,733 shares of the industrial products company’s stock valued at $939,000 after buying an additional 907 shares during the period. SG Americas Securities LLC lifted its position in shares of Dover by 112.9% during the 4th quarter. SG Americas Securities LLC now owns 11,409 shares of the industrial products company’s stock valued at $1,755,000 after buying an additional 6,050 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Dover by 2,173.8% in the third quarter. Wellington Management Group LLP now owns 817,125 shares of the industrial products company’s stock worth $113,997,000 after purchasing an additional 781,189 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Dover stock opened at $172.06 on Friday. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week 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 stock has a market cap of $23.64 billion, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 1.79 and a beta of 1.27. The firm’s fifty day moving average price is $169.46 and its 200-day moving average price is $152.08.

Dover (NYSE:DOV) last issued its quarterly 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 during the quarter, compared to analyst estimates of $2.16 billion. Dover had a return on equity of 25.95% and a net margin of 12.52%. The company’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 earnings per share. On average, equities research analysts expect that Dover Co. will post 9.06 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Wednesday, February 28th. Dover’s dividend payout ratio (DPR) is presently 27.13%.

Insider Transactions at Dover

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Barclays increased their target price on Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Robert W. Baird raised their price objective 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. Wells Fargo & Company upped their target price on shares of Dover from $140.00 to $167.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 19th. Oppenheimer raised their price target on shares of Dover from $175.00 to $177.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.88.

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.