Desjardins Global Asset Management Inc. Cuts Stock Holdings in Dover Co. (NYSE:DOV)

Desjardins Global Asset Management Inc. lowered its holdings in shares of Dover Co. (NYSE:DOV) by 16.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 610 shares of the industrial products company’s stock after selling 122 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Dover were worth $94,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of DOV. Norges Bank bought a new position in Dover during the fourth quarter valued at $167,153,000. Price T Rowe Associates Inc. MD lifted its position in Dover by 112.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,902,351 shares of the industrial products company’s stock valued at $257,597,000 after purchasing an additional 1,005,470 shares during the last quarter. CI Private Wealth LLC bought a new position in Dover during the fourth quarter valued at $126,175,000. Adage Capital Partners GP L.L.C. lifted its position in Dover by 160.2% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock valued at $199,319,000 after purchasing an additional 879,533 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position 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 valued at $113,997,000 after purchasing an additional 781,189 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Trading Up 0.7 %

Shares of DOV opened at $169.84 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.40 and a quick ratio of 0.90. The firm has a market capitalization of $23.33 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 1.76 and a beta of 1.27. The company has a 50-day moving average of $170.42 and a 200 day moving average of $153.04. Dover Co. has a 1-year low of $127.25 and a 1-year high of $178.28.

Dover (NYSE:DOV) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.01. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.16 billion. Dover had a net margin of 12.52% and a return on equity of 25.95%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.16 EPS. On average, research analysts expect that Dover Co. will post 9.06 EPS for the current year.

Dover Announces Dividend

The firm 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. This represents a $2.04 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Wednesday, February 28th. Dover’s dividend payout ratio (DPR) is 27.13%.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the firm’s stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Brad M. Cerepak sold 6,000 shares of Dover 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 transaction, the chief financial officer now owns 17,909 shares of the company’s stock, valued at approximately $3,164,699.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $171.19, for a total transaction of $256,785.00. Following the completion of the transaction, 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. In the last quarter, insiders have sold 25,910 shares of company stock valued at $4,318,059. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Barclays raised their target price on shares of Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Royal Bank of Canada raised their target price on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Seaport Res Ptn upgraded shares of Dover from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Finally, Citigroup raised their target price on shares of Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.13.

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.