Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Holdings in Dover Co. (NYSE:DOV)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Dover Co. (NYSE:DOV) by 18.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 65,149 shares of the industrial products company’s stock after buying an additional 10,294 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Dover were worth $10,021,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in DOV. Vanguard Group Inc. boosted its holdings in Dover by 1.3% in the first quarter. Vanguard Group Inc. now owns 16,895,470 shares of the industrial products company’s stock valued at $2,650,899,000 after acquiring an additional 224,091 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of Dover by 1.9% during the 2nd quarter. Macquarie Group Ltd. now owns 3,314,537 shares of the industrial products company’s stock worth $402,119,000 after purchasing an additional 61,298 shares during the period. Geode Capital Management LLC increased its position in Dover by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 2,893,220 shares of the industrial products company’s stock worth $438,594,000 after purchasing an additional 51,836 shares in the last quarter. FMR LLC raised its holdings in Dover by 10.5% in the third quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock valued at $333,522,000 after buying an additional 226,646 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Dover by 14.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,177,064 shares of the industrial products company’s stock valued at $330,785,000 after buying an additional 274,713 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Stephen M. Todd sold 1,500 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $171.19, for a total transaction of $256,785.00. Following the transaction, the director now directly owns 22,955 shares in the company, valued at $3,929,666.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction 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. In the last 90 days, insiders have sold 25,910 shares of company stock worth $4,318,059. 1.30% of the stock is currently owned by corporate insiders.

Dover Price Performance

Shares of NYSE DOV opened at $169.84 on Friday. 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 Co. has a fifty-two week low of $127.25 and a fifty-two week high of $178.28. The business has a 50 day moving average price of $170.42 and a two-hundred day moving average price of $153.04. The firm has a market cap of $23.33 billion, a PE ratio of 22.59, a price-to-earnings-growth ratio of 1.76 and a beta of 1.27.

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

Dover Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on DOV shares. Citigroup raised their target price on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Royal Bank of Canada boosted their price objective on Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Barclays increased their target price on Dover from $163.00 to $180.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Robert W. Baird upped their price target on Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Finally, Oppenheimer increased 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. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.