Dover Co. (NYSE:DOV) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc cut its stake in Dover Co. (NYSE:DOVFree Report) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,920 shares of the industrial products company’s stock after selling 953 shares during the quarter. CIBC Asset Management Inc’s holdings in Dover were worth $3,064,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. NEOS Investment Management LLC increased its holdings in shares of Dover by 33.0% during the 4th quarter. NEOS Investment Management LLC now owns 1,984 shares of the industrial products company’s stock valued at $305,000 after purchasing an additional 492 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Dover in the fourth quarter worth about $268,000. HFR Wealth Management LLC boosted its stake in shares of Dover by 1.9% during the 4th quarter. HFR Wealth Management LLC now owns 60,641 shares of the industrial products company’s stock worth $9,327,000 after acquiring an additional 1,136 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Dover by 1.0% during the 4th quarter. California State Teachers Retirement System now owns 215,891 shares of the industrial products company’s stock valued at $33,206,000 after acquiring an additional 2,106 shares during the period. Finally, Bank of Nova Scotia increased its stake in shares of Dover by 33.8% in the 4th quarter. Bank of Nova Scotia now owns 17,348 shares of the industrial products company’s stock valued at $2,668,000 after purchasing an additional 4,385 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays increased their price target on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Oppenheimer lifted their price target on shares of Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Citigroup upped their price objective on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Mizuho lifted their target price on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Wells Fargo & Company upped their price target on shares of Dover from $177.00 to $190.00 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 given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $185.75.

Read Our Latest Stock Analysis on Dover

Dover Stock Down 1.6 %

DOV stock opened at $178.03 on Friday. The company has a market cap of $24.47 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 2.22 and a beta of 1.24. The firm has a 50-day moving average of $178.80 and a two-hundred day moving average of $164.00. Dover Co. has a 12 month low of $127.25 and a 12 month high of $188.64. 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:DOVGet Free Report) last released its quarterly earnings data 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. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 25.04% and a net margin of 17.28%. During the same quarter in the previous year, the company posted $1.94 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, analysts forecast that Dover Co. will post 9.1 earnings per share for the current fiscal year.

Dover Announces Dividend

The company 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. This represents a $2.04 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Friday, May 31st. Dover’s dividend payout ratio (DPR) is presently 19.60%.

Insider Buying and Selling at Dover

In other news, CFO Brad M. Cerepak sold 6,000 shares of the firm’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 transaction of $1,060,260.00. Following the completion of the sale, the chief financial officer now owns 17,909 shares in the company, valued at approximately $3,164,699.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.

About Dover

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Dover (NYSE:DOV)

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