Wilbanks Smith & Thomas Asset Management LLC Takes $261,000 Position in Dover Co. (NYSE:DOV)

Wilbanks Smith & Thomas Asset Management LLC bought a new position in shares of Dover Co. (NYSE:DOV) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,696 shares of the industrial products company’s stock, valued at approximately $261,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. raised its stake in Dover by 160.2% in the third 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 buying an additional 879,533 shares in the last quarter. Wellington Management Group LLP raised its stake in Dover by 2,173.8% during the 3rd quarter. Wellington Management Group LLP now owns 817,125 shares of the industrial products company’s stock worth $113,997,000 after acquiring an additional 781,189 shares in the last quarter. FMR LLC boosted its stake in Dover by 10.5% in the third 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. Nordea Investment Management AB grew its holdings in shares of Dover by 53.1% during the third quarter. Nordea Investment Management AB now owns 528,857 shares of the industrial products company’s stock worth $74,415,000 after purchasing an additional 183,529 shares during the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of Dover by 480.7% during the third quarter. Retirement Systems of Alabama now owns 184,563 shares of the industrial products company’s stock worth $25,748,000 after purchasing an additional 152,778 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Up 0.8 %

DOV stock opened at $179.05 on Friday. The stock has a market capitalization of $24.61 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 1.83 and a beta of 1.25. The company has a fifty day moving average of $173.44 and a 200-day moving average of $155.62. 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 one year low of $127.25 and a one year high of $182.33.

Dover (NYSE:DOV) last posted its quarterly earnings results 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 net margin of 17.28% and a return on equity of 25.04%. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the company posted $1.94 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. As a group, analysts expect that Dover Co. will post 9.1 EPS for the current year.

Dover Dividend Announcement

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

Analysts Set New Price Targets

DOV has been the topic of a number of research reports. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Citigroup lifted their target price on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 8th. Mizuho upped their price target on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Oppenheimer raised their price objective on shares of Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Wells Fargo & Company upped their target price on shares of Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $185.75.

Insider Buying and Selling at Dover

In other 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 transaction of $1,060,260.00. Following the transaction, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at approximately $3,164,699.39. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction that occurred on 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 owns 22,955 shares of the company’s stock, valued at approximately $3,929,666.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brad M. Cerepak sold 6,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,910 shares of company stock valued at $4,318,059. 1.30% of the stock is owned by company 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.