CIBC Private Wealth Group LLC trimmed its position in Dover Co. (NYSE:DOV – Get Rating) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,243 shares of the industrial products company’s stock after selling 418 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Dover were worth $2,064,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the company. Trust Co. of Vermont raised its stake in shares of Dover by 1.3% in the fourth quarter. Trust Co. of Vermont now owns 5,029 shares of the industrial products company’s stock valued at $681,000 after purchasing an additional 66 shares in the last quarter. Insight Folios Inc raised its stake in Dover by 3.2% during the fourth quarter. Insight Folios Inc now owns 2,432 shares of the industrial products company’s stock worth $329,000 after acquiring an additional 75 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in Dover by 4.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,961 shares of the industrial products company’s stock worth $266,000 after acquiring an additional 77 shares in the last quarter. First Commonwealth Financial Corp PA raised its stake in Dover by 2.6% during the third quarter. First Commonwealth Financial Corp PA now owns 3,096 shares of the industrial products company’s stock worth $361,000 after acquiring an additional 78 shares in the last quarter. Finally, MGO One Seven LLC raised its stake in Dover by 3.4% during the fourth quarter. MGO One Seven LLC now owns 2,400 shares of the industrial products company’s stock worth $325,000 after acquiring an additional 79 shares in the last quarter. 85.52% of the stock is currently owned by institutional investors and hedge funds.
Dover Price Performance
Dover stock opened at $139.86 on Monday. The business’s 50-day simple moving average is $142.95 and its 200 day simple moving average is $143.50. The stock has a market cap of $19.56 billion, a price-to-earnings ratio of 18.65, a P/E/G ratio of 1.11 and a beta of 1.35. Dover Co. has a 12-month low of $114.49 and a 12-month high of $160.66. The company has a quick ratio of 0.76, a current ratio of 1.32 and a debt-to-equity ratio of 0.66.
Dover Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be issued a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Tuesday, May 30th. Dover’s dividend payout ratio (DPR) is currently 26.93%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the company. Citigroup increased their price objective on Dover from $175.00 to $184.00 and gave the stock a “buy” rating in a research note on Monday, March 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $145.00 price objective on shares of Dover in a research note on Thursday, March 9th. Bank of America increased their price objective on Dover from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, April 11th. Wells Fargo & Company dropped their price objective on Dover from $157.00 to $155.00 and set an “equal weight” rating for the company in a research note on Thursday, April 13th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Dover from $147.00 to $145.00 and set a “hold” rating for the company in a research note on Wednesday, April 12th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $162.31.
Insider Transactions at Dover
In related news, CFO Brad M. Cerepak sold 34,972 shares of Dover stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $143.25, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.
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.
Read More
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