Xponance Inc. Lowers Stake in Dover Co. (NYSE:DOV)

Xponance Inc. cut its position in Dover Co. (NYSE:DOV) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,962 shares of the industrial products company’s stock after selling 387 shares during the period. Xponance Inc.’s holdings in Dover were worth $2,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also bought and sold shares of DOV. CX Institutional grew its position in shares of Dover by 1.5% during the fourth quarter. CX Institutional now owns 4,933 shares of the industrial products company’s stock worth $759,000 after purchasing an additional 72 shares in the last quarter. First Commonwealth Financial Corp PA lifted its stake in Dover by 2.6% in the 4th quarter. First Commonwealth Financial Corp PA now owns 3,176 shares of the industrial products company’s stock worth $430,000 after purchasing an additional 80 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Dover by 0.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,076 shares of the industrial products company’s stock valued at $2,801,000 after purchasing an additional 83 shares during the last quarter. Kinneret Advisory LLC grew its position in shares of Dover by 2.3% during the first quarter. Kinneret Advisory LLC now owns 3,715 shares of the industrial products company’s stock valued at $583,000 after purchasing an additional 84 shares in the last quarter. Finally, Lindbrook Capital LLC increased its holdings in shares of Dover by 8.1% in the third quarter. Lindbrook Capital LLC now owns 1,225 shares of the industrial products company’s stock worth $171,000 after purchasing an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Buying and Selling

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Brad M. Cerepak sold 6,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 17,909 shares in the company, valued at approximately $3,164,699.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now 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. Insiders sold 25,910 shares of company stock valued at $4,318,059 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on DOV shares. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Robert W. Baird boosted their target price on shares of Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Oppenheimer increased their price target on shares of Dover from $177.00 to $187.00 and gave the company an “outperform” rating in a report on Thursday. Citigroup boosted their target price on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Barclays raised their price target 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 investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus target price of $175.13.

Dover Trading Up 0.7 %

DOV opened at $169.84 on Monday. 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 stock’s fifty day moving average is $170.42 and its two-hundred day moving average is $153.26. The company has a market capitalization of $23.33 billion, a P/E 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.

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

Dover Dividend Announcement

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

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.