Dover Co. (NYSE:DOV) Shares Sold by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lowered its stake in shares of Dover Co. (NYSE:DOV) by 6.5% in the fourth quarter, HoldingsChannel reports. The fund owned 1,879 shares of the industrial products company’s stock after selling 130 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Dover were worth $289,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DOV. Adage Capital Partners GP L.L.C. boosted its holdings in Dover by 160.2% in 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 acquiring an additional 879,533 shares during the period. Wellington Management Group LLP lifted its stake in Dover by 2,173.8% during the third quarter. Wellington Management Group LLP now owns 817,125 shares of the industrial products company’s stock worth $113,997,000 after purchasing an additional 781,189 shares during the last quarter. FMR LLC lifted its stake in Dover by 10.5% during the third quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock worth $333,522,000 after purchasing an additional 226,646 shares during the last quarter. Nordea Investment Management AB lifted its stake in Dover by 53.1% during the third quarter. Nordea Investment Management AB now owns 528,857 shares of the industrial products company’s stock worth $74,415,000 after purchasing an additional 183,529 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its stake in Dover by 480.7% during the third quarter. Retirement Systems of Alabama now owns 184,563 shares of the industrial products company’s stock worth $25,748,000 after purchasing an additional 152,778 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DOV. Oppenheimer increased their target price on Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Wells Fargo & Company raised their price target on Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Mizuho lifted their target price on Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Royal Bank of Canada lifted their target price on Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.75.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of Dover stock in a transaction dated 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 of the company’s stock, valued at approximately $3,164,699.39. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction that occurred on 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 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 document filed with the SEC, which is available at this link. Also, CFO Brad M. Cerepak sold 6,000 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 17,909 shares of the company’s stock, 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 valued at $4,318,059 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Dover Trading Up 0.1 %

Shares of DOV opened at $181.83 on Wednesday. The business’s 50-day moving average price is $174.13 and its 200 day moving average price is $156.52. The stock has a market capitalization of $24.99 billion, a P/E ratio of 17.47, a P/E/G ratio of 1.84 and a beta of 1.25. Dover Co. has a 1-year low of $127.25 and a 1-year high of $183.43. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58.

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

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.04 annualized dividend and a yield of 1.12%. Dover’s dividend payout ratio (DPR) is presently 19.60%.

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.