Cerity Partners LLC Buys 15,623 Shares of Dover Co. (NYSE:DOV)

Cerity Partners LLC grew its stake in shares of Dover Co. (NYSE:DOV) by 58.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 42,575 shares of the industrial products company’s stock after purchasing an additional 15,623 shares during the period. Cerity Partners LLC’s holdings in Dover were worth $6,549,000 as of its most recent filing with the SEC.

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

Dover Stock Down 0.8 %

Shares of NYSE DOV opened at $170.67 on Tuesday. Dover Co. has a 1 year low of $127.25 and a 1 year high of $178.28. The firm’s 50-day moving average is $169.68 and its 200-day moving average is $152.37. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $23.45 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 1.79 and a beta of 1.27.

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. The firm had revenue of $2.11 billion for 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 business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the firm earned $2.16 earnings per share. Equities analysts expect that Dover Co. will post 9.06 EPS for the current year.

Dover Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have weighed in on DOV. Seaport Res Ptn raised shares of Dover from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Royal Bank of Canada boosted their price objective on Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Barclays raised their target price on Dover from $163.00 to $180.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Robert W. Baird increased their price objective on shares of Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Finally, Citigroup boosted their target price on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $173.88.

Insider Buying and Selling at Dover

In other news, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction dated 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other 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 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 legal filing with the SEC, which is available at 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 transaction of $1,060,260.00. Following the completion of the sale, the chief financial officer now 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. Over the last quarter, insiders have sold 25,910 shares of company stock valued at $4,318,059. 1.30% of the stock is currently owned by company insiders.

About Dover

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.