Dover Co. (NYSE:DOV) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lowered its position in shares of Dover Co. (NYSE:DOV) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,116 shares of the industrial products company’s stock after selling 342 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Dover were worth $1,095,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in shares of Dover in the third quarter valued at approximately $32,000. Headinvest LLC acquired a new stake in shares of Dover in the third quarter valued at approximately $32,000. Exchange Traded Concepts LLC acquired a new stake in shares of Dover in the fourth quarter valued at approximately $33,000. AdvisorNet Financial Inc increased its holdings in shares of 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 last quarter. Finally, Life Planning Partners Inc acquired a new stake in shares of Dover in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Activity at Dover

In related news, CFO Brad M. Cerepak sold 6,000 shares of Dover stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total value of $1,060,260.00. Following the completion of the transaction, the chief financial officer now directly owns 17,909 shares in the company, valued at $3,164,699.39. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Stephen M. Todd sold 1,500 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $171.19, for a total transaction of $256,785.00. Following the sale, the director now owns 22,955 shares of the company’s stock, valued at approximately $3,929,666.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brad M. Cerepak sold 6,000 shares of the company’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 value of $1,060,260.00. Following the completion of the transaction, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,910 shares of company stock worth $4,318,059. Company insiders own 1.30% of the company’s stock.

Dover Trading Down 0.8 %

DOV opened at $170.67 on Tuesday. Dover Co. has a 52 week low of $127.25 and a 52 week high of $178.28. The business has a fifty day simple moving average of $169.68 and a 200-day simple moving average of $152.37. The firm has a market cap of $23.45 billion, a P/E ratio of 22.70, a P/E/G ratio of 1.79 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.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.44 by $0.01. The business 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 quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the business posted $2.16 earnings per share. On average, equities analysts expect that Dover Co. will post 9.06 earnings per share for the current year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a $0.51 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $2.04 dividend on an annualized basis and a yield of 1.20%. Dover’s dividend payout ratio (DPR) is presently 27.13%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on DOV shares. Royal Bank of Canada increased their price target on Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Robert W. Baird increased their price objective on Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Oppenheimer increased their price objective on Dover from $175.00 to $177.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, Barclays increased their price objective on Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.