Chesapeake Wealth Management Purchases Shares of 1,371 Dover Co. (NYSE:DOV)

Chesapeake Wealth Management bought a new stake in shares of Dover Co. (NYSE:DOVFree Report) during the 4th quarter, HoldingsChannel.com reports. The firm bought 1,371 shares of the industrial products company’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Dover during the fourth quarter valued at approximately $175,275,000. Adage Capital Partners GP L.L.C. boosted its stake 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 valued at $199,319,000 after buying an additional 879,533 shares in the last quarter. Wellington Management Group LLP raised 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 acquiring an additional 781,189 shares in the last quarter. Franklin Resources Inc. raised its stake in Dover by 15.4% during the fourth quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock worth $567,426,000 after acquiring an additional 492,577 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Dover by 10.5% during the third quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock valued at $333,522,000 after acquiring an additional 226,646 shares during the period. Institutional investors own 84.46% of the company’s stock.

Insider Activity

In related news, CFO Brad M. Cerepak sold 6,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 17,909 shares in the company, valued at $3,164,699.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 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 in the company, valued at $3,164,699.39. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stephen M. Todd sold 1,500 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value 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 $3,929,666.45. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DOV. Robert W. Baird increased their target price on shares of Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Oppenheimer lifted their target price 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. Mizuho increased their price target on Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Barclays lifted their price objective on Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Finally, Citigroup raised their target price on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $185.75.

Check Out Our Latest Analysis on DOV

Dover Trading Up 1.5 %

Shares of DOV traded up $2.69 during trading hours on Friday, hitting $183.82. 1,718,884 shares of the stock traded hands, compared to its average volume of 870,597. The business has a fifty day moving average of $178.49 and a 200-day moving average of $163.01. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $25.26 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 2.28 and a beta of 1.25. Dover Co. has a 1-year low of $127.25 and a 1-year high of $188.64.

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

Dover Dividend Announcement

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 given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, May 31st. Dover’s payout ratio is 19.60%.

Dover Company 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.

See Also

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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