Louisiana State Employees Retirement System Takes Position in Dover Co. (NYSE:DOV)

Louisiana State Employees Retirement System bought a new position in Dover Co. (NYSE:DOV) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 8,500 shares of the industrial products company’s stock, valued at approximately $1,307,000.

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

Insider Transactions at Dover

In related news, CFO Brad M. Cerepak sold 18,410 shares of the company’s 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 transaction, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Brad M. Cerepak sold 6,000 shares of Dover stock in a transaction on 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now directly owns 23,909 shares in the company, valued at $3,897,406.09. The disclosure for this sale can be found here. Insiders sold 25,910 shares of company stock valued at $4,318,059 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Dover Price Performance

Shares of DOV stock opened at $169.84 on Monday. The company has a market cap of $23.33 billion, a P/E ratio of 22.59, a PEG ratio of 1.76 and a beta of 1.27. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.40 and a quick ratio of 0.90. The stock’s 50-day moving average is $170.42 and its 200 day moving average is $153.26. Dover Co. has a 1-year low of $127.25 and a 1-year high of $178.28.

Dover (NYSE:DOV) last issued its quarterly earnings data 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. Dover had a net margin of 12.52% and a return on equity of 25.95%. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the firm earned $2.16 EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. Research analysts predict that Dover Co. will post 9.06 earnings per share for the current fiscal year.

Dover Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Oppenheimer lifted their price objective on Dover from $177.00 to $187.00 and gave the stock an “outperform” rating in a research note on Thursday. Citigroup upped their price target 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 lifted their price objective on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Robert W. Baird upped their target price 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, Seaport Res Ptn upgraded Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Dover has an average rating of “Moderate Buy” and an average price target of $175.13.

Dover 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.