Dover Co. (NYSE:DOV) Stock Position Raised by Simplicity Solutions LLC

Simplicity Solutions LLC raised its position in shares of Dover Co. (NYSE:DOV) by 32.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,777 shares of the industrial products company’s stock after purchasing an additional 915 shares during the quarter. Simplicity Solutions LLC’s holdings in Dover were worth $581,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of DOV. AdvisorNet Financial Inc grew its holdings in shares of Dover by 783.3% during the fourth 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 in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Dover in the 4th quarter valued at about $33,000. Life Planning Partners Inc purchased a new stake in shares of Dover in the fourth quarter worth approximately $35,000. Orion Capital Management LLC acquired a new stake in shares of Dover during the third quarter worth approximately $32,000. Finally, Headinvest LLC purchased a new position in Dover during the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Price Performance

NYSE DOV opened at $169.50 on Thursday. The stock has a market capitalization of $23.29 billion, a PE ratio of 22.54, a P/E/G ratio of 1.77 and a beta of 1.27. The stock has a 50-day simple moving average of $170.06 and a 200 day simple moving average of $152.71. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40. Dover Co. has a twelve month low of $127.25 and a twelve month high of $178.28.

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

Dover Dividend Announcement

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

Insider Activity at Dover

In other news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction that occurred on 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 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 Securities & Exchange Commission, which is available through the SEC website. In other Dover news, Director Stephen M. Todd sold 1,500 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the completion of the transaction, the director now owns 22,955 shares in the company, valued at $3,929,666.45. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brad M. Cerepak sold 18,410 shares of the company’s stock in a transaction that occurred 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 completion of the sale, 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 over the last three months. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

DOV has been the topic of a number of research reports. Citigroup upped their price target 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. Seaport Res Ptn upgraded Dover from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Robert W. Baird increased their price objective on Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Oppenheimer lifted their target price on shares of Dover from $175.00 to $177.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Finally, Royal Bank of Canada increased their price target 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. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.88.

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.