New York Life Investment Management LLC Sells 1,135 Shares of Dover Co. (NYSE:DOV)

New York Life Investment Management LLC reduced its holdings in Dover Co. (NYSE:DOV) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,750 shares of the industrial products company’s stock after selling 1,135 shares during the period. New York Life Investment Management LLC’s holdings in Dover were worth $3,345,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of DOV. Vontobel Holding Ltd. increased its position in Dover by 7.2% during the fourth quarter. Vontobel Holding Ltd. now owns 25,421 shares of the industrial products company’s stock worth $3,910,000 after acquiring an additional 1,718 shares during the period. Nordea Investment Management AB grew its position in Dover by 5.5% in the 4th quarter. Nordea Investment Management AB now owns 557,953 shares of the industrial products company’s stock worth $85,612,000 after purchasing an additional 29,096 shares during the last quarter. Vest Financial LLC increased its holdings in shares of Dover by 35.7% during the 4th quarter. Vest Financial LLC now owns 202,490 shares of the industrial products company’s stock worth $31,145,000 after purchasing an additional 53,273 shares during the period. Chartwell Investment Partners LLC raised its position in shares of Dover by 15.6% during the third quarter. Chartwell Investment Partners LLC now owns 6,733 shares of the industrial products company’s stock valued at $939,000 after buying an additional 907 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in Dover by 112.9% during the fourth quarter. SG Americas Securities LLC now owns 11,409 shares of the industrial products company’s stock worth $1,755,000 after buying an additional 6,050 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on DOV shares. Robert W. Baird raised their price objective on Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Royal Bank of Canada boosted their price target on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Oppenheimer raised their price objective on shares of Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Wells Fargo & Company increased their price target on shares of Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Finally, Seaport Res Ptn raised Dover from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.75.

Dover Stock Up 0.8 %

NYSE DOV opened at $178.99 on Friday. The stock’s 50 day simple moving average is $173.44 and its 200 day simple moving average is $155.62. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.89. Dover Co. has a one year low of $127.25 and a one year high of $182.33. The firm has a market cap of $24.60 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.84 and a beta of 1.25.

Dover (NYSE:DOV) last announced its earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.88 by $0.07. Dover had a return on equity of 25.04% and a net margin of 17.28%. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the business earned $1.94 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. As a group, sell-side analysts forecast that Dover Co. will post 9.1 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.14%. Dover’s payout ratio is 19.60%.

Insider Activity

In related news, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the completion of the transaction, the director now owns 22,955 shares in the company, valued at approximately $3,929,666.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the completion of the transaction, the director now owns 22,955 shares in the company, valued at $3,929,666.45. The disclosure for this sale can be found here. Insiders have sold 25,910 shares of company stock valued at $4,318,059 over the last three months. 1.30% of the stock is owned by insiders.

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.