SVB Wealth LLC Acquires 1,287 Shares of Dover Co. (NYSE:DOV)

SVB Wealth LLC raised its stake in shares of Dover Co. (NYSE:DOV) by 7.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,786 shares of the industrial products company’s stock after buying an additional 1,287 shares during the period. SVB Wealth LLC’s holdings in Dover were worth $2,736,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Orion Capital Management LLC bought a new position in shares of Dover in the 3rd quarter valued at approximately $32,000. Headinvest LLC acquired a new stake in shares of Dover in the third quarter worth $32,000. Exchange Traded Concepts LLC acquired a new stake in shares of Dover in the fourth quarter worth $33,000. AdvisorNet Financial Inc grew its stake in 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 buying an additional 188 shares during the last quarter. Finally, Life Planning Partners Inc bought a new position in Dover in the 4th quarter worth $35,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Performance

Shares of NYSE DOV opened at $169.50 on Thursday. The firm has a market capitalization of $23.29 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 1.78 and a beta of 1.27. Dover Co. has a one year low of $127.25 and a one year high of $178.28. The business has a fifty day simple moving average of $170.06 and a 200 day simple moving average of $152.71. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.01. Dover had a net margin of 12.52% and a return on equity of 25.95%. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the company posted $2.16 EPS. The business’s revenue was down 1.5% on a year-over-year basis. Sell-side analysts expect that Dover Co. will post 9.06 EPS for the current year.

Dover Announces Dividend

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

Insider Transactions at Dover

In related 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 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 SEC, which is available through this link. In related news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction dated 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 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. Also, Director Stephen M. Todd sold 1,500 shares of the company’s stock in a transaction dated 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 directly owns 22,955 shares in the company, valued at $3,929,666.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,910 shares of company stock valued at $4,318,059. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DOV shares. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Oppenheimer raised their target price on Dover from $175.00 to $177.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Robert W. Baird upped their price target on Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Royal Bank of Canada raised their price objective on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Finally, Seaport Res Ptn upgraded shares of Dover from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.