Swiss National Bank Sells 12,500 Shares of Dover Co. (NYSE:DOV)

Swiss National Bank lowered its position in shares of Dover Co. (NYSE:DOV) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 437,400 shares of the industrial products company’s stock after selling 12,500 shares during the quarter. Swiss National Bank’s holdings in Dover were worth $67,276,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in DOV. Orion Capital Management LLC acquired a new position in Dover during the 3rd quarter valued at about $32,000. Headinvest LLC acquired a new position in Dover in the third quarter valued at approximately $32,000. Exchange Traded Concepts LLC acquired a new stake in Dover during the 4th quarter worth $33,000. AdvisorNet Financial Inc raised its position in shares of Dover by 783.3% during the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 188 shares during the last quarter. Finally, Life Planning Partners Inc acquired a new position in shares of Dover in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

DOV has been the subject of a number of recent analyst reports. Citigroup upped their price objective on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 8th. Oppenheimer increased their price target on shares of Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Mizuho increased their target price on shares of Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Barclays lifted their price target on shares of Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $185.75.

Dover Stock Up 0.8 %

Shares of DOV stock opened at $178.99 on Monday. The company has a market capitalization of $24.60 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 1.84 and a beta of 1.25. Dover Co. has a 12-month low of $127.25 and a 12-month high of $182.33. The firm has a fifty day moving average of $173.44 and a 200-day moving average of $155.72. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.07. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.03 billion. Dover had a return on equity of 25.04% and a net margin of 17.28%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the business posted $1.94 EPS. As a group, equities research analysts predict that Dover Co. will post 9.1 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.14%. Dover’s dividend payout ratio (DPR) is currently 19.60%.

Insider Transactions at Dover

In other news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction 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 sale, the chief financial officer now 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 accessible through the SEC website. In other news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value of $3,001,014.10. Following the completion of the transaction, the chief financial officer now owns 23,909 shares in the company, valued at approximately $3,897,406.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the completion of the sale, the director now directly owns 22,955 shares in the company, valued at approximately $3,929,666.45. The disclosure for this sale can be found here. Insiders sold 25,910 shares of company stock valued at $4,318,059 in the last ninety days. 1.30% of the stock is currently owned by corporate 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.