Ieq Capital LLC Trims Position in Dover Co. (NYSE:DOV)

Ieq Capital LLC reduced its position in Dover Co. (NYSE:DOV) by 3.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,614 shares of the industrial products company’s stock after selling 210 shares during the period. Ieq Capital LLC’s holdings in Dover were worth $863,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Orion Capital Management LLC purchased a new stake in Dover in the 3rd quarter valued at about $32,000. Headinvest LLC acquired a new stake in shares of Dover in the third quarter worth $32,000. Exchange Traded Concepts LLC purchased a new position in shares of Dover in the 4th quarter valued at $33,000. AdvisorNet Financial Inc raised its stake in shares of Dover by 783.3% in the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 188 shares during the period. Finally, Life Planning Partners Inc acquired a new position in shares of Dover during the 4th quarter valued at $35,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Up 0.8 %

Shares of Dover stock opened at $185.17 on Thursday. Dover Co. has a twelve month low of $127.25 and a twelve month high of $186.50. The stock has a market capitalization of $25.45 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.90 and a beta of 1.25. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58. The business’s 50 day simple moving average is $176.22 and its 200-day simple moving average is $158.59.

Dover (NYSE:DOV) last posted its earnings results on Thursday, April 25th. The industrial products company reported $1.95 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 quarter in the prior year, the firm earned $1.94 EPS. Dover’s quarterly revenue was up .7% on a year-over-year basis. Equities research analysts forecast that Dover Co. will post 9.1 earnings per share for the current year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.51 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $2.04 annualized dividend and a dividend yield of 1.10%. Dover’s payout ratio is 19.60%.

Insider Activity

In related news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction that occurred 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 completion of 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 document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the chief financial officer now directly owns 17,909 shares in the company, valued at approximately $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 valued at $4,318,059. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

DOV has been the topic of several research reports. Seaport Res Ptn raised Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Robert W. Baird upped their target price on shares of Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Barclays lifted their price target on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Finally, Royal Bank of Canada lifted their target price on Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $185.75.

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.