Spire Wealth Management Increases Stock Position in Dover Co. (NYSE:DOV)

Spire Wealth Management raised its stake in shares of Dover Co. (NYSE:DOV) by 37.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 39,429 shares of the industrial products company’s stock after purchasing an additional 10,756 shares during the period. Spire Wealth Management’s holdings in Dover were worth $5,839,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. AdvisorNet Financial Inc grew its holdings in shares of 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 purchasing an additional 188 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Dover in the 4th quarter valued at $33,000. Life Planning Partners Inc acquired a new position in shares of Dover in the 4th quarter valued at $35,000. Orion Capital Management LLC acquired a new position in shares of Dover in the 3rd quarter valued at $32,000. Finally, Headinvest LLC acquired a new position in shares of Dover in the 3rd quarter valued at $32,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Price Performance

Dover stock traded up $2.74 during midday trading on Monday, hitting $181.73. The company’s stock had a trading volume of 640,126 shares, compared to its average volume of 992,995. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The stock’s 50-day moving average price is $173.44 and its 200-day moving average price is $155.86. Dover Co. has a 12 month low of $127.25 and a 12 month high of $182.33. The company has a market capitalization of $24.98 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.84 and a beta of 1.25.

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

Dover Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays increased their price target on shares of Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Wells Fargo & Company boosted their price target on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Citigroup lifted their price target on Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada increased their price target on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $185.75.

Insider Transactions at Dover

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value of $3,001,014.10. Following the transaction, the chief financial officer now owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Dover news, Director Stephen M. Todd sold 1,500 shares of Dover 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 directly owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The transaction was disclosed in a document filed with the SEC, which is available at 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 transaction 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 approximately $3,897,406.09. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,910 shares of company stock worth $4,318,059. Insiders own 1.30% of the company’s stock.

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.