Raymond James & Associates Has $23.64 Million Stock Position in Dover Co. (NYSE:DOV)

Raymond James & Associates cut its stake in Dover Co. (NYSE:DOVFree Report) by 6.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 153,716 shares of the industrial products company’s stock after selling 10,946 shares during the period. Raymond James & Associates owned about 0.11% of Dover worth $23,643,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of DOV. Fairfield Bush & CO. acquired a new stake in shares of Dover in the 1st quarter valued at $48,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Dover in the first quarter valued at about $938,000. Raymond James Trust N.A. grew its stake in Dover by 5.8% during the first quarter. Raymond James Trust N.A. now owns 5,645 shares of the industrial products company’s stock worth $886,000 after buying an additional 310 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Dover by 6.5% during the first quarter. Vontobel Holding Ltd. now owns 9,126 shares of the industrial products company’s stock worth $1,465,000 after buying an additional 561 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Dover by 6.1% in the first quarter. Sei Investments Co. now owns 140,560 shares of the industrial products company’s stock valued at $22,055,000 after acquiring an additional 8,054 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on DOV. Robert W. Baird raised their price target on Dover from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Barclays upped their target price on shares of Dover from $150.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Monday, February 5th. Wells Fargo & Company raised their price target on shares of Dover from $140.00 to $167.00 and gave the company an “equal weight” rating in a report on Tuesday, December 19th. Finally, Oppenheimer upped their price objective on Dover from $175.00 to $177.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $168.70.

View Our Latest Stock Report on DOV

Insiders Place Their Bets

In related news, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Brad M. Cerepak sold 18,410 shares of the company’s stock in a transaction dated 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brad M. Cerepak sold 6,000 shares of Dover 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 sale, 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 worth $4,318,059. Corporate insiders own 1.30% of the company’s stock.

Dover Stock Down 0.0 %

Shares of Dover stock opened at $177.19 on Monday. Dover Co. has a 12 month low of $127.25 and a 12 month high of $178.28. The business has a fifty day simple moving average of $164.87 and a 200 day simple moving average of $149.90. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 0.59. The stock has a market cap of $24.34 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 1.81 and a beta of 1.27.

Dover (NYSE:DOVGet Free Report) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 earnings per share 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 business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the company posted $2.16 EPS. Dover’s revenue for the quarter was down 1.5% on a year-over-year basis. Research analysts predict that Dover Co. will post 9.07 EPS for the current year.

Dover Dividend Announcement

The firm also recently disclosed 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. This represents a $2.04 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Wednesday, February 28th. Dover’s payout ratio is presently 27.13%.

About Dover

(Free Report)

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.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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