Greenleaf Trust Buys 263 Shares of Dover Co. (NYSE:DOV)

Greenleaf Trust boosted its stake in shares of Dover Co. (NYSE:DOV) by 10.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,671 shares of the industrial products company’s stock after purchasing an additional 263 shares during the period. Greenleaf Trust’s holdings in Dover were worth $411,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Orion Capital Management LLC bought a new position in Dover during the third quarter valued at approximately $32,000. Headinvest LLC purchased a new stake in Dover during the third quarter valued at approximately $32,000. Exchange Traded Concepts LLC purchased a new stake in Dover during the fourth quarter valued at approximately $33,000. AdvisorNet Financial Inc increased its holdings in Dover by 783.3% during the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after buying an additional 188 shares during the last quarter. Finally, Life Planning Partners Inc purchased a new stake in Dover during the fourth quarter valued at approximately $35,000. Institutional investors own 84.46% of the company’s stock.

Insider Buying and Selling at Dover

In other Dover news, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction on Thursday, March 7th. The shares were 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 owns 22,955 shares in the company, valued at $3,929,666.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total transaction 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 $3,897,406.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the transaction, the director now owns 22,955 shares of the company’s stock, valued at approximately $3,929,666.45. The disclosure for this sale can be found here. Insiders sold 25,910 shares of company stock worth $4,318,059 over the last 90 days. 1.30% of the stock is owned by insiders.

Dover Stock Performance

DOV opened at $172.19 on Wednesday. The stock has a market capitalization of $23.65 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 1.76 and a beta of 1.27. The company has a fifty day moving average of $170.83 and a 200 day moving average of $153.72. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week high of $178.28. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40.

Dover (NYSE:DOV) last posted its earnings results on Thursday, February 1st. The industrial products company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.01. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Dover had a net margin of 12.52% and a return on equity of 25.95%. Dover’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the company posted $2.16 earnings per share. As a group, sell-side analysts forecast that Dover Co. will post 9.06 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid 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 yield of 1.18%. Dover’s payout ratio is 27.13%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on DOV shares. Barclays upped their target price on shares of Dover from $163.00 to $180.00 and gave the company an “equal weight” rating in a report on Tuesday, April 2nd. Oppenheimer upped their target price on shares of Dover from $177.00 to $187.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. StockNews.com cut shares of Dover from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Robert W. Baird increased their price objective on shares of Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Finally, Royal Bank of Canada increased their price objective on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus target price of $175.13.

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.