Desjardins Global Asset Management Inc. Lowers Holdings in Dover Co. (NYSE:DOV)

Desjardins Global Asset Management Inc. cut its position in Dover Co. (NYSE:DOV) by 16.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 610 shares of the industrial products company’s stock after selling 122 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Dover were worth $94,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. AdvisorNet Financial Inc lifted its stake in Dover by 783.3% in the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 188 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Dover during the 4th quarter valued at $33,000. Life Planning Partners Inc purchased a new stake in shares of Dover during the 4th quarter valued at $35,000. Orion Capital Management LLC purchased a new stake in shares of Dover during the 3rd quarter valued at $32,000. Finally, Headinvest LLC purchased a new stake in shares of Dover during the 3rd quarter valued at $32,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 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 owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 17,909 shares in the company, valued at $3,164,699.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 23,909 shares in the company, valued at approximately $3,897,406.09. The disclosure for this sale can be found here. Insiders have sold a total of 25,910 shares of company stock valued at $4,318,059 in the last quarter. Insiders own 1.30% of the company’s stock.

Dover Price Performance

Shares of NYSE:DOV opened at $169.84 on Friday. The stock has a market cap of $23.33 billion, a PE ratio of 22.59, a PEG ratio of 1.76 and a beta of 1.27. Dover Co. has a 52 week low of $127.25 and a 52 week high of $178.28. 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 fifty day moving average is $170.42 and its 200 day moving average is $153.04.

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

Dover Dividend Announcement

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

Analyst Ratings Changes

DOV has been the topic of several research reports. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Oppenheimer raised their price objective on shares of Dover from $177.00 to $187.00 and gave the company an “outperform” rating in a research report on Thursday. Seaport Res Ptn upgraded shares of Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. 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. Finally, Barclays lifted their target price on shares of Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $175.13.

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.