Dover Co. (NYSE:DOV) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its holdings in Dover Co. (NYSE:DOV) by 30.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,504 shares of the industrial products company’s stock after selling 24,867 shares during the period. Handelsbanken Fonder AB’s holdings in Dover were worth $8,845,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Vontobel Holding Ltd. increased its holdings in shares of Dover by 7.2% during the 4th quarter. Vontobel Holding Ltd. now owns 25,421 shares of the industrial products company’s stock worth $3,910,000 after buying an additional 1,718 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Dover by 5.5% during the 4th quarter. Nordea Investment Management AB now owns 557,953 shares of the industrial products company’s stock worth $85,612,000 after buying an additional 29,096 shares during the last quarter. Vest Financial LLC increased its holdings in shares of Dover by 35.7% during the 4th quarter. Vest Financial LLC now owns 202,490 shares of the industrial products company’s stock worth $31,145,000 after buying an additional 53,273 shares during the last quarter. Chartwell Investment Partners LLC increased its holdings in shares of Dover by 15.6% during the 3rd quarter. Chartwell Investment Partners LLC now owns 6,733 shares of the industrial products company’s stock worth $939,000 after buying an additional 907 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Dover by 112.9% during the 4th quarter. SG Americas Securities LLC now owns 11,409 shares of the industrial products company’s stock worth $1,755,000 after buying an additional 6,050 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Buying and Selling

In related news, CFO Brad M. Cerepak sold 18,410 shares of Dover 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 sale, the chief financial officer now directly owns 23,909 shares in the company, valued at approximately $3,897,406.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Dover news, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the transaction, the director now directly owns 22,955 shares in the company, valued at $3,929,666.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brad M. Cerepak sold 18,410 shares of Dover 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 completion of the transaction, the chief financial officer now owns 23,909 shares in the company, valued at $3,897,406.09. The disclosure for this sale can be found here. Insiders have sold 25,910 shares of company stock worth $4,318,059 in the last ninety days. 1.30% of the stock is owned by corporate insiders.

Dover Price Performance

Dover stock opened at $171.42 on Thursday. The stock has a market cap of $23.55 billion, a P/E ratio of 22.80, a price-to-earnings-growth ratio of 1.79 and a beta of 1.27. The company has a fifty day simple moving average of $171.04 and a 200-day simple moving average of $153.84. Dover Co. has a 12-month low of $127.25 and a 12-month high of $178.28. 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 released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.45 earnings per share (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 analysts’ expectations of $2.16 billion. Dover had a net margin of 12.52% and a return on equity of 25.95%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.16 EPS. Equities analysts expect that Dover Co. will post 9.07 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.04 annualized dividend and a yield of 1.19%. Dover’s dividend payout ratio is currently 27.13%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on DOV shares. Barclays increased their price objective on shares of Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Citigroup increased their price objective on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Oppenheimer raised their price target on shares of Dover from $177.00 to $187.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Royal Bank of Canada raised their price target on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Finally, StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and an average price target of $175.13.

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.