Sequoia Financial Advisors LLC Increases Stock Holdings in Dover Co. (NYSE:DOV)

Sequoia Financial Advisors LLC lifted its position in Dover Co. (NYSE:DOV) by 61.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,562 shares of the industrial products company’s stock after purchasing an additional 977 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Dover were worth $394,000 at the end of the most recent reporting period.

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

Dover Stock Down 1.0 %

DOV stock opened at $169.50 on Thursday. The company’s 50 day moving average price is $170.06 and its 200 day moving average price is $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 fifty-two week low of $127.25 and a fifty-two week high of $178.28. The firm has a market capitalization of $23.29 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 1.77 and a beta of 1.27.

Dover (NYSE:DOV) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.45 earnings per share for the quarter, topping 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 firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the firm earned $2.16 earnings per share. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts anticipate that Dover Co. will post 9.06 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.20%. Dover’s payout ratio is 27.13%.

Wall Street Analysts Forecast Growth

DOV has been the topic of a number of recent analyst reports. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Citigroup upped their target price on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Royal Bank of Canada upped their target price 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. Robert W. Baird increased their price target on shares of Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Finally, Seaport Res Ptn raised shares of Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $173.88.

Insider Buying and Selling

In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the 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 transaction, the chief financial officer now directly owns 17,909 shares in the company, valued at $3,164,699.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the 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 transaction, the chief financial officer now directly owns 23,909 shares in the company, valued at $3,897,406.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 17,909 shares in the company, valued at $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. Company insiders own 1.30% of the company’s stock.

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.