Sentry Investment Management LLC Sells 79 Shares of Dover Co. (NYSE:DOV)

Sentry Investment Management LLC lessened its holdings in Dover Co. (NYSE:DOV) by 9.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 736 shares of the industrial products company’s stock after selling 79 shares during the period. Sentry Investment Management LLC’s holdings in Dover were worth $113,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. CX Institutional increased its position in shares of Dover by 1.5% in 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 during the last quarter. First Commonwealth Financial Corp PA lifted its holdings in shares of Dover by 2.6% during the 4th quarter. First Commonwealth Financial Corp PA now owns 3,176 shares of the industrial products company’s stock worth $430,000 after acquiring an additional 80 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Dover by 0.4% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,076 shares of the industrial products company’s stock worth $2,801,000 after acquiring an additional 83 shares in the last quarter. Kinneret Advisory LLC increased its stake in Dover by 2.3% in the first quarter. Kinneret Advisory LLC now owns 3,715 shares of the industrial products company’s stock valued at $583,000 after acquiring an additional 84 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its stake in Dover by 8.1% during 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. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Price Performance

Shares of Dover stock opened at $169.50 on Thursday. The company has a market cap of $23.29 billion, a PE ratio of 22.54, a P/E/G ratio of 1.77 and a beta of 1.27. The business has a 50 day moving average of $170.06 and a 200 day moving average of $152.71. Dover Co. has a 52 week low of $127.25 and a 52 week high of $178.28. 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 (NYSE:DOV) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.45 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period last year, the company posted $2.16 EPS. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts forecast that Dover Co. will post 9.06 earnings per share for the current year.

Dover Dividend Announcement

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

Insider Buying and Selling

In other news, CFO Brad M. Cerepak sold 18,410 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $163.01, for a total value of $3,001,014.10. Following the sale, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction on 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction dated 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 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. Insiders have sold a total of 25,910 shares of company stock valued at $4,318,059 over the last ninety days. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DOV. Seaport Res Ptn upgraded Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Oppenheimer boosted their price objective on shares of Dover from $175.00 to $177.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Robert W. Baird lifted their price objective on Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. StockNews.com lowered Dover from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, Citigroup increased their price objective on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and an average price target of $173.88.

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.