Dover Co. (NYSE:DOV) Position Increased by ICW Investment Advisors LLC

ICW Investment Advisors LLC raised its holdings in shares of Dover Co. (NYSE:DOV) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,746 shares of the industrial products company’s stock after acquiring an additional 250 shares during the period. ICW Investment Advisors LLC’s holdings in Dover were worth $1,653,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. FMR LLC raised its stake in Dover by 10.5% during 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 in the last quarter. Northern Trust Corp raised its stake in Dover by 5.5% during 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 in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Dover by 160.2% during 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 in the last quarter. Invesco Ltd. raised its stake in Dover by 14.9% during 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 in the last quarter. Finally, Corient Private Wealth LLC raised its stake in Dover by 3.6% during 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 in the last quarter. Institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DOV. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Oppenheimer lifted their price target on Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. 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. Royal Bank of Canada lifted their price target on Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Finally, Wells Fargo & Company boosted their price target on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus price target of $185.75.

Dover Price Performance

Shares of DOV stock traded down $0.73 during trading hours on Wednesday, hitting $178.57. The company had a trading volume of 790,112 shares, compared to its average volume of 976,803. The firm has a market capitalization of $24.54 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 1.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 1.31. Dover Co. has a 12 month low of $127.25 and a 12 month high of $182.33. The firm’s fifty day moving average is $172.50 and its 200 day moving average is $155.04.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (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 firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the business earned $1.94 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. On average, sell-side analysts predict that Dover Co. will post 9.1 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders 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 1.14%. The ex-dividend date was Wednesday, February 28th. Dover’s dividend payout ratio is 19.60%.

Insider Activity

In other news, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction on 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 transaction, the chief financial officer now owns 17,909 shares of the company’s stock, valued at approximately $3,164,699.39. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Brad M. Cerepak sold 6,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief financial officer now owns 17,909 shares in the company, valued at approximately $3,164,699.39. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction dated 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 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 have sold a total of 25,910 shares of company stock valued at $4,318,059 in the last 90 days. 1.30% of the stock is owned by company insiders.

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.