Yousif Capital Management LLC Cuts Holdings in Dover Co. (NYSE:DOV)

Yousif Capital Management LLC reduced its position in Dover Co. (NYSE:DOV) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,166 shares of the industrial products company’s stock after selling 1,616 shares during the period. Yousif Capital Management LLC’s holdings in Dover were worth $9,869,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC increased its stake in Dover by 10.5% during the third quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock worth $333,522,000 after acquiring an additional 226,646 shares during the last quarter. Northern Trust Corp boosted its holdings 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 during the period. Adage Capital Partners GP L.L.C. grew 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 last quarter. Invesco Ltd. increased its stake in Dover by 14.9% in the third quarter. Invesco Ltd. now owns 1,025,505 shares of the industrial products company’s stock worth $143,068,000 after purchasing an additional 133,241 shares during the period. Finally, Corient Private Wealth LLC lifted its position in shares of Dover by 3.6% during the third quarter. Corient Private Wealth LLC now owns 992,449 shares of the industrial products company’s stock worth $138,457,000 after purchasing an additional 34,207 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Activity

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly 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 is available at the SEC website. In related news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction dated 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 $3,897,406.09. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $171.19, for a total value 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,910 shares of company stock valued at $4,318,059. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on DOV. Robert W. Baird lifted their target price on Dover from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Barclays increased their price objective on Dover from $163.00 to $180.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. 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 lifted their price target on Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Finally, Oppenheimer raised their price objective on Dover from $177.00 to $187.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $175.13.

Dover Stock Down 0.5 %

Shares of NYSE DOV traded down $0.85 during midday trading on Wednesday, hitting $171.44. The company’s stock had a trading volume of 1,272,299 shares, compared to its average volume of 944,514. Dover Co. has a 1 year low of $127.25 and a 1 year high of $178.28. The business’s fifty day simple moving average is $170.83 and its two-hundred day simple moving average is $153.72. The firm has a market capitalization of $23.55 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.40 and a quick ratio of 0.90.

Dover (NYSE:DOV) last posted its quarterly 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. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.16 billion. Dover had a net margin of 12.52% and a return on equity of 25.95%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.16 earnings per share. On average, equities analysts predict that Dover Co. will post 9.07 EPS for the current year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Wednesday, February 28th. Dover’s dividend payout ratio (DPR) is currently 27.13%.

About Dover

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.