Allspring Global Investments Holdings LLC Sells 271 Shares of Dover Co. (NYSE:DOV)

Allspring Global Investments Holdings LLC cut its stake in shares of Dover Co. (NYSE:DOV) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,472 shares of the industrial products company’s stock after selling 271 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Dover were worth $1,149,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CX Institutional grew its holdings in Dover by 1.5% during the 4th quarter. CX Institutional now owns 4,933 shares of the industrial products company’s stock worth $759,000 after acquiring an additional 72 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Dover by 0.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,076 shares of the industrial products company’s stock worth $2,801,000 after acquiring an additional 83 shares during the last quarter. Lindbrook Capital LLC grew its holdings in Dover by 8.1% during the 3rd quarter. Lindbrook Capital LLC now owns 1,225 shares of the industrial products company’s stock worth $171,000 after acquiring an additional 92 shares during the last quarter. Lido Advisors LLC grew its holdings in Dover by 2.7% during the 3rd quarter. Lido Advisors LLC now owns 3,828 shares of the industrial products company’s stock worth $534,000 after acquiring an additional 101 shares during the last quarter. Finally, JGP Wealth Management LLC grew its holdings in Dover by 1.1% during the 3rd quarter. JGP Wealth Management LLC now owns 9,918 shares of the industrial products company’s stock worth $1,384,000 after acquiring an additional 109 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Dover news, Director Stephen M. Todd sold 1,500 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the transaction, the director now owns 22,955 shares in the company, valued at $3,929,666.45. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Dover news, Director Stephen M. Todd sold 1,500 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the transaction, the director now owns 22,955 shares in the company, valued at $3,929,666.45. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Brad M. Cerepak sold 6,000 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now 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 90 days, insiders have sold 25,910 shares of company stock worth $4,318,059. Insiders own 1.30% of the company’s stock.

Dover Stock Up 1.1 %

Dover stock opened at $172.19 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 0.59. Dover Co. has a 12-month low of $127.25 and a 12-month high of $178.28. The firm’s fifty day moving average is $170.83 and its 200 day moving average is $153.72. The company has a market capitalization of $23.65 billion, a PE ratio of 22.90, a PEG ratio of 1.76 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 (EPS) 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 company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the previous year, the company earned $2.16 EPS. Dover’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts predict that Dover Co. will post 9.06 EPS for the current fiscal year.

Dover Dividend Announcement

The business 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. 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 1.18%. Dover’s payout ratio is presently 27.13%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DOV. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Robert W. Baird boosted their target price on shares of Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Seaport Res Ptn upgraded shares of Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Barclays boosted their price target 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. Finally, Oppenheimer boosted their price target on shares of Dover from $177.00 to $187.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and a consensus price target of $175.13.

Dover Company 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.