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

Wilbanks Smith & Thomas Asset Management LLC acquired a new stake in shares of Dover Co. (NYSE:DOV) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,696 shares of the industrial products company’s stock, valued at approximately $261,000.

Several other large investors also recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in shares of 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 purchasing an additional 226,646 shares during the period. Northern Trust Corp lifted its holdings in shares of Dover by 5.5% in the 3rd quarter. Northern Trust Corp now owns 1,724,613 shares of the industrial products company’s stock worth $240,601,000 after buying an additional 89,774 shares during the period. Adage Capital Partners GP L.L.C. grew its position in shares of 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 worth $199,319,000 after buying an additional 879,533 shares in the last quarter. Invesco Ltd. increased its stake in shares of Dover by 14.9% during the third quarter. Invesco Ltd. now owns 1,025,505 shares of the industrial products company’s stock valued at $143,068,000 after buying an additional 133,241 shares during the period. Finally, Corient Private Wealth LLC raised its holdings in shares of Dover by 3.6% in the third 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. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on DOV. Oppenheimer raised their target price on shares of Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Mizuho boosted their price objective on shares of Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Citigroup increased their target price on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Barclays boosted their price target on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada raised their price objective on Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $185.75.

Insiders Place Their Bets

In other news, 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 directly owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Brad M. Cerepak sold 18,410 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were 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 directly owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brad M. Cerepak sold 6,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 25,910 shares of company stock valued at $4,318,059. 1.30% of the stock is owned by company insiders.

Dover Trading Up 0.8 %

Dover stock opened at $179.05 on Friday. Dover Co. has a one year low of $127.25 and a one year high of $182.33. The stock has a market cap 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 debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 1.31. The stock has a 50-day moving average of $173.44 and a two-hundred day moving average of $155.62.

Dover (NYSE:DOV) last released its earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. Dover had a net margin of 17.28% and a return on equity of 25.04%. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Dover’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the business earned $1.94 EPS. On average, research analysts anticipate that Dover Co. will post 9.1 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.14%. Dover’s dividend payout ratio (DPR) is 19.60%.

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.