Federated Hermes Inc. Has $2.78 Million Stock Holdings in Dover Co. (NYSE:DOV)

Federated Hermes Inc. reduced its position in shares of Dover Co. (NYSE:DOV) by 81.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,080 shares of the industrial products company’s stock after selling 81,344 shares during the quarter. Federated Hermes Inc.’s holdings in Dover were worth $2,781,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its stake in Dover by 10.5% during the 3rd quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock worth $333,522,000 after buying an additional 226,646 shares during the period. Northern Trust Corp raised its stake in Dover by 5.5% during the 3rd quarter. Northern Trust Corp now owns 1,724,613 shares of the industrial products company’s stock worth $240,601,000 after buying an additional 89,774 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings in Dover by 160.2% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock worth $199,319,000 after purchasing an additional 879,533 shares in the last quarter. Invesco Ltd. increased its holdings in Dover by 14.9% during the 3rd quarter. Invesco Ltd. now owns 1,025,505 shares of the industrial products company’s stock worth $143,068,000 after purchasing an additional 133,241 shares in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in Dover by 3.6% during the 3rd quarter. Corient Private Wealth LLC now owns 992,449 shares of the industrial products company’s stock worth $138,457,000 after purchasing an additional 34,207 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Price Performance

Shares of NYSE DOV opened at $180.17 on Friday. The stock has a fifty day simple moving average of $171.75 and a two-hundred day simple moving average of $154.38. Dover Co. has a 1-year low of $127.25 and a 1-year high of $181.49. The firm has a market cap of $24.75 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 1.85 and a beta of 1.27. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.07. Dover had a return on equity of 25.41% and a net margin of 17.28%. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same period in the prior year, the company earned $1.94 earnings per share. Dover’s revenue was up .7% compared to the same quarter last year. Analysts anticipate that Dover Co. will post 9.09 earnings per share for the current year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders 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 annualized dividend and a dividend yield of 1.13%. Dover’s dividend payout ratio is currently 19.60%.

Insiders Place Their Bets

In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the 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 sale, the chief financial officer now owns 17,909 shares in the company, valued at $3,164,699.39. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction 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 in the company, valued at $3,897,406.09. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction 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 sale, 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. Insiders have sold a total of 25,910 shares of company stock worth $4,318,059 over the last 90 days. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Barclays boosted their price objective on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a report on Friday. Mizuho boosted their price objective on Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday. Robert W. Baird upped their target price on Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a report on Friday. Wells Fargo & Company upped their target price on Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Citigroup upped their target price on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $185.75.

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.