Dover Co. (NYSE:DOV) Shares Sold by Sound Financial Strategies Group LLC

Sound Financial Strategies Group LLC trimmed its stake in shares of Dover Co. (NYSE:DOV) by 34.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,156 shares of the industrial products company’s stock after selling 2,175 shares during the quarter. Dover comprises 0.5% of Sound Financial Strategies Group LLC’s portfolio, making the stock its 23rd largest position. Sound Financial Strategies Group LLC’s holdings in Dover were worth $639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in DOV. FMR LLC increased its position in Dover by 10.5% in the 3rd quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock valued at $333,522,000 after acquiring an additional 226,646 shares during the period. Northern Trust Corp increased its position in Dover by 5.5% in the 3rd quarter. Northern Trust Corp now owns 1,724,613 shares of the industrial products company’s stock valued at $240,601,000 after acquiring an additional 89,774 shares during the period. Adage Capital Partners GP L.L.C. increased its position in Dover by 160.2% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock valued at $199,319,000 after acquiring an additional 879,533 shares during the period. Invesco Ltd. increased its position in Dover by 14.9% in the 3rd quarter. Invesco Ltd. now owns 1,025,505 shares of the industrial products company’s stock valued at $143,068,000 after acquiring an additional 133,241 shares during the period. Finally, Corient Private Wealth LLC increased its position in Dover by 3.6% in the 3rd quarter. Corient Private Wealth LLC now owns 992,449 shares of the industrial products company’s stock valued at $138,457,000 after acquiring an additional 34,207 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Down 0.5 %

DOV traded down $0.87 during trading on Wednesday, reaching $171.42. 1,287,471 shares of the stock traded hands, compared to its average volume of 950,182. The stock has a market cap of $23.55 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week high of $178.28. 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 simple moving average is $171.04 and its two-hundred day simple moving average is $153.84.

Dover (NYSE:DOV) last posted its earnings results 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 company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the company earned $2.16 earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts expect that Dover Co. will post 9.07 EPS for the current 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 paid a $0.51 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.19%. Dover’s payout ratio is presently 27.13%.

Analyst Upgrades and Downgrades

DOV has been the topic of several research analyst reports. Oppenheimer lifted their price target on Dover from $177.00 to $187.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Citigroup lifted their price target on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Seaport Res Ptn upgraded Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Royal Bank of Canada raised 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. Finally, Robert W. Baird raised their price objective on Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $175.13.

Insider Transactions at Dover

In other news, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $171.19, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $171.19, for a total transaction of $256,785.00. Following the sale, the director now directly owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Brad M. Cerepak sold 6,000 shares of Dover stock in a transaction dated Wednesday, March 13th. The stock was 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 $3,164,699.39. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,910 shares of company stock worth $4,318,059. Company insiders own 1.30% of the company’s stock.

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.