Neuberger Berman Group LLC Decreases Stock Position in Dover Co. (NYSE:DOV)

Neuberger Berman Group LLC reduced its position in shares of Dover Co. (NYSE:DOVFree Report) by 20.1% during the fourth quarter, HoldingsChannel reports. The firm owned 42,469 shares of the industrial products company’s stock after selling 10,661 shares during the quarter. Neuberger Berman Group LLC’s holdings in Dover were worth $6,532,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DOV. Orion Capital Management LLC purchased a new position in Dover in the 3rd quarter valued at about $32,000. Headinvest LLC acquired a new stake in Dover during the 3rd quarter valued at approximately $32,000. Exchange Traded Concepts LLC purchased a new stake in Dover during the 4th quarter worth approximately $33,000. AdvisorNet Financial Inc raised its holdings in Dover by 783.3% in the fourth 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 in the last quarter. Finally, Life Planning Partners Inc bought a new position in Dover during the 4th quarter valued at $35,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DOV shares. Royal Bank of Canada increased their price target on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. Robert W. Baird boosted their target price on shares of Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Oppenheimer increased their price objective on shares of Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Seaport Res Ptn raised Dover from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Finally, Wells Fargo & Company raised their target price on Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.75.

Get Our Latest Analysis on DOV

Insider Buying and Selling

In other 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 completion of the transaction, the chief financial officer now owns 17,909 shares in the company, valued at approximately $3,164,699.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Stephen M. Todd sold 1,500 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 22,955 shares of the company’s stock, valued at approximately $3,929,666.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total value of $1,060,260.00. Following the sale, the chief financial officer now directly owns 17,909 shares in the company, valued at $3,164,699.39. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Dover Stock Performance

Shares of DOV traded down $0.10 during trading hours on Friday, reaching $184.18. 761,527 shares of the company’s stock traded hands, compared to its average volume of 1,029,550. Dover Co. has a twelve month low of $127.25 and a twelve month high of $187.80. The firm has a market capitalization of $25.31 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 2.28 and a beta of 1.25. The business’s fifty day simple moving average is $177.79 and its two-hundred day simple moving average is $161.23. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.89.

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

Dover Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors 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 1.11%. Dover’s dividend payout ratio is currently 19.60%.

Dover Profile

(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.

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Want to see what other hedge funds are holding DOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dover Co. (NYSE:DOVFree Report).

Institutional Ownership by Quarter for Dover (NYSE:DOV)

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