Connecticut Wealth Management LLC Increases Stake in Dover Co. (NYSE:DOV)

Connecticut Wealth Management LLC increased its position in shares of Dover Co. (NYSE:DOV) by 7.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,539 shares of the industrial products company’s stock after purchasing an additional 173 shares during the period. Connecticut Wealth Management LLC’s holdings in Dover were worth $391,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in DOV. Vontobel Holding Ltd. raised its position in Dover by 7.2% during the 4th quarter. Vontobel Holding Ltd. now owns 25,421 shares of the industrial products company’s stock valued at $3,910,000 after purchasing an additional 1,718 shares in the last quarter. Nordea Investment Management AB lifted its stake in Dover by 5.5% in the fourth quarter. Nordea Investment Management AB now owns 557,953 shares of the industrial products company’s stock worth $85,612,000 after acquiring an additional 29,096 shares during the period. Vest Financial LLC increased its position in Dover by 35.7% during the 4th quarter. Vest Financial LLC now owns 202,490 shares of the industrial products company’s stock valued at $31,145,000 after purchasing an additional 53,273 shares during the period. Chartwell Investment Partners LLC raised its holdings in shares of Dover by 15.6% in the 3rd quarter. Chartwell Investment Partners LLC now owns 6,733 shares of the industrial products company’s stock valued at $939,000 after purchasing an additional 907 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Dover by 112.9% during the fourth quarter. SG Americas Securities LLC now owns 11,409 shares of the industrial products company’s stock valued at $1,755,000 after purchasing an additional 6,050 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Stephen M. Todd sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $171.19, for a total value of $256,785.00. Following the completion of the transaction, the director now directly owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $163.01, for a total value of $3,001,014.10. Following the completion of the sale, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,910 shares of company stock valued at $4,318,059. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DOV has been the subject of a number of analyst reports. Oppenheimer upped their target price on Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Royal Bank of Canada boosted their price objective on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a report on Friday, February 2nd. Mizuho raised their target price on Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Robert W. Baird increased their price objective on Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Barclays upped their target price on Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $185.75.

Dover Price Performance

Shares of NYSE:DOV traded up $2.56 during trading on Monday, reaching $181.55. The stock had a trading volume of 274,824 shares, compared to its average volume of 988,450. The business has a fifty day moving average price of $173.44 and a 200-day moving average price of $155.86. Dover Co. has a 1-year low of $127.25 and a 1-year high of $182.33. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 1.31. The stock has a market cap of $24.95 billion, a PE ratio of 17.19, a PEG ratio of 1.84 and a beta of 1.25.

Dover (NYSE:DOV) last released 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. Dover had a net margin of 17.28% and a return on equity of 25.04%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the firm earned $1.94 EPS. Dover’s quarterly revenue was up .7% on a year-over-year basis. On average, equities analysts forecast that Dover Co. will post 9.1 earnings per share for the current fiscal year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.12%. Dover’s dividend payout ratio (DPR) is 19.60%.

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.