Concord Wealth Partners bought a new position in Dover Co. (NYSE:DOV – Get Rating) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 302 shares of the industrial products company’s stock, valued at approximately $41,000.
Several other institutional investors have also recently made changes to their positions in the company. Annex Advisory Services LLC grew its stake in shares of Dover by 4.3% in the 4th quarter. Annex Advisory Services LLC now owns 26,739 shares of the industrial products company’s stock worth $3,621,000 after acquiring an additional 1,108 shares in the last quarter. Advisory Resource Group grew its position in Dover by 6.5% during the fourth quarter. Advisory Resource Group now owns 19,220 shares of the industrial products company’s stock valued at $2,603,000 after buying an additional 1,166 shares during the period. Natixis Advisors L.P. grew its position in Dover by 14.7% during the fourth quarter. Natixis Advisors L.P. now owns 424,078 shares of the industrial products company’s stock valued at $57,424,000 after buying an additional 54,400 shares during the period. M&G Investment Management Ltd. bought a new position in Dover during the fourth quarter valued at about $3,560,000. Finally, Jeppson Wealth Management LLC grew its position in Dover by 6.6% during the fourth quarter. Jeppson Wealth Management LLC now owns 3,493 shares of the industrial products company’s stock valued at $473,000 after buying an additional 217 shares during the period. Institutional investors own 85.52% of the company’s stock.
Insider Activity at Dover
In related news, CFO Brad M. Cerepak sold 34,972 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $143.25, for a total value of $5,009,739.00. Following the sale, the chief financial officer now directly owns 73,878 shares of the company’s stock, valued at $10,583,023.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.
Dover Trading Up 0.3 %
Dover (NYSE:DOV – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.01. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Dover had a net margin of 12.52% and a return on equity of 28.55%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 earnings per share. On average, equities analysts expect that Dover Co. will post 9 earnings per share for the current fiscal year.
Dover Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were paid a $0.505 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Monday, February 27th. Dover’s dividend payout ratio is currently 27.19%.
Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. Barclays reduced their price target on shares of Dover from $141.00 to $138.00 and set an “equal weight” rating for the company in a research report on Thursday, April 6th. Citigroup increased their price target on shares of Dover from $175.00 to $184.00 and gave the company a “buy” rating in a research report on Monday, March 6th. StockNews.com started coverage on shares of Dover in a research report on Thursday, March 16th. They set a “buy” rating for the company. Robert W. Baird started coverage on shares of Dover in a research report on Thursday, March 9th. They set a “buy” rating and a $176.00 target price for the company. Finally, Wells Fargo & Company increased their target price on shares of Dover from $149.00 to $157.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 1st. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $162.92.
Dover Profile
Dover Corp. operates as a manufacturer and solutions provider delivering innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services. It operates through the following segments: Engineered Products, Clean Energy and Fueling, Imaging and Identification, Pumps and Process Solutions, and Climate and Sustainability Technologies.
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