Texas Permanent School Fund trimmed its stake in Dover Co. (NYSE:DOV – Get Rating) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,942 shares of the industrial products company’s stock after selling 369 shares during the period. Texas Permanent School Fund’s holdings in Dover were worth $2,700,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of DOV. Fairfield Bush & CO. acquired a new stake in Dover in the first quarter valued at $48,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Dover in the first quarter valued at $938,000. Raymond James Trust N.A. increased its holdings in Dover by 5.8% in the first quarter. Raymond James Trust N.A. now owns 5,645 shares of the industrial products company’s stock valued at $886,000 after purchasing an additional 310 shares during the period. Vontobel Holding Ltd. increased its holdings in Dover by 6.5% in the first quarter. Vontobel Holding Ltd. now owns 9,126 shares of the industrial products company’s stock valued at $1,465,000 after purchasing an additional 561 shares during the period. Finally, Sei Investments Co. increased its holdings in Dover by 6.1% in the first quarter. Sei Investments Co. now owns 140,560 shares of the industrial products company’s stock valued at $22,055,000 after purchasing an additional 8,054 shares during the period. 85.52% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Dover
In related news, CFO Brad M. Cerepak sold 34,972 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 73,878 shares of the company’s stock, valued at approximately $10,583,023.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by insiders.
Dover Price Performance
Dover (NYSE:DOV – Get Rating) last announced its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $1.94 earnings per share for the quarter, meeting the consensus estimate of $1.94. Dover had a net margin of 12.51% and a return on equity of 28.27%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter last year, the firm earned $1.90 EPS. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, research analysts anticipate that Dover Co. will post 8.99 earnings per share for the current fiscal year.
Dover Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be given a $0.505 dividend. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $2.02 annualized dividend and a yield of 1.42%. Dover’s payout ratio is 26.93%.
Wall Street Analyst Weigh In
DOV has been the subject of a number of recent analyst reports. Barclays decreased their price target on Dover from $141.00 to $138.00 and set an “equal weight” rating for the company in a report on Thursday, April 6th. Mizuho increased their price target on Dover from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, February 1st. Wells Fargo & Company decreased their price target on Dover from $157.00 to $155.00 and set an “equal weight” rating for the company in a report on Thursday, April 13th. JPMorgan Chase & Co. increased their price target on Dover from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Dover from $147.00 to $145.00 and set a “hold” rating for the company in a report on Wednesday, April 12th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.31.
Dover Company 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.
Featured Articles
- Get a free copy of the StockNews.com research report on Dover (DOV)
- How to Buy Southwest Airlines Stock
- Lucid Group Bottomed, But The Outlook Remains Cloudy
- Shoals Technology is an EV and Solar Play Just Getting Started
- Under Armour May Have Just Bottomed
- Skyworks Solutions: Another Crack in the Consumer Outlook
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:DOV – Get Rating).
Receive News & Ratings for Dover Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dover and related companies with MarketBeat.com's FREE daily email newsletter.
