Dover Co. (NYSE:DOV) Stock Holdings Trimmed by Schechter Investment Advisors LLC

Posted by Defense World Staff on Jun 11th, 2023

Schechter Investment Advisors LLC reduced its position in Dover Co. (NYSE:DOV – Get Rating) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,933 shares of the industrial products company’s stock after selling 169 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Dover were worth $262,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nuveen Asset Management LLC grew its holdings in shares of Dover by 27.7% during the third quarter. Nuveen Asset Management LLC now owns 2,607,299 shares of the industrial products company’s stock valued at $303,959,000 after purchasing an additional 565,772 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Dover by 21.1% during the third quarter. Alliancebernstein L.P. now owns 2,501,261 shares of the industrial products company’s stock valued at $291,597,000 after purchasing an additional 436,060 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Dover by 134.8% in the 3rd quarter. Two Sigma Advisers LP now owns 570,200 shares of the industrial products company’s stock worth $66,474,000 after buying an additional 327,400 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Dover by 41.6% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 896,881 shares of the industrial products company’s stock worth $104,559,000 after buying an additional 263,414 shares in the last quarter. Finally, State Street Corp grew its holdings in Dover by 3.5% in the 3rd quarter. State Street Corp now owns 6,867,691 shares of the industrial products company’s stock worth $800,635,000 after buying an additional 231,562 shares in the last quarter. 85.52% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Brad M. Cerepak sold 17,769 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $139.03, for a total value of $2,470,424.07. Following the completion of the sale, the chief financial officer now owns 54,569 shares in the company, valued at $7,586,728.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Brad M. Cerepak sold 34,972 shares of the stock in a transaction on Monday, March 13th. The stock was sold at an average price of $143.25, for a total value of $5,009,739.00. Following the completion of the sale, the chief financial officer now owns 73,878 shares in the company, valued at $10,583,023.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brad M. Cerepak sold 17,769 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $139.03, for a total value of $2,470,424.07. Following the completion of the sale, the chief financial officer now owns 54,569 shares of the company’s stock, valued at approximately $7,586,728.07. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Dover Price Performance

Shares of NYSE:DOV opened at $141.14 on Friday. Dover Co. has a one year low of $114.49 and a one year high of $160.66. The stock has a fifty day moving average of $142.34 and a 200-day moving average of $143.49. The company has a market capitalization of $19.74 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 1.13 and a beta of 1.35. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 1.32.

Dover (NYSE:DOV – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $1.94 EPS for the quarter, meeting analysts’ consensus estimates of $1.94. Dover had a return on equity of 28.27% and a net margin of 12.51%. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the prior year, the firm earned $1.90 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, equities analysts anticipate that Dover Co. will post 9 EPS for the current fiscal year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be issued a $0.505 dividend. The ex-dividend date is Tuesday, May 30th. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.43%. Dover’s payout ratio is currently 26.93%.

Wall Street Analysts Forecast Growth

DOV has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on Dover from $147.00 to $145.00 and set a “hold” rating for the company in a report on Wednesday, April 12th. Wells Fargo & Company decreased their price objective on Dover from $157.00 to $155.00 and set an “equal weight” rating for the company in a report on Thursday, April 13th. Credit Suisse Group reissued an “outperform” rating and issued a $174.00 price objective on shares of Dover in a report on Thursday, March 9th. Royal Bank of Canada reissued a “sector perform” rating and issued a $145.00 price objective on shares of Dover in a report on Thursday, March 9th. Finally, Citigroup upped their target price on Dover from $175.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday, March 6th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and a consensus target price of $162.31.

About Dover

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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.