Phocas Financial Corp. Sells 230 Shares of Dover Co. (NYSE:DOV)

Phocas Financial Corp. lessened its position in Dover Co. (NYSE:DOV – Get Rating) by 3.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,960 shares of the industrial products company’s stock after selling 230 shares during the period. Phocas Financial Corp.’s holdings in Dover were worth $807,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DOV. Ellevest Inc. lifted its position in Dover by 47.0% during the third quarter. Ellevest Inc. now owns 244 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 78 shares during the period. First Commonwealth Financial Corp PA lifted its position 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 valued at $361,000 after purchasing an additional 78 shares during the period. Tilia Fiduciary Partners Inc. lifted its position in Dover by 11.6% during the third quarter. Tilia Fiduciary Partners Inc. now owns 780 shares of the industrial products company’s stock valued at $93,000 after purchasing an additional 81 shares during the period. Apollon Wealth Management LLC lifted its position in Dover by 3.0% during the third quarter. Apollon Wealth Management LLC now owns 2,870 shares of the industrial products company’s stock valued at $335,000 after purchasing an additional 84 shares during the period. Finally, Kinneret Advisory LLC lifted its position in Dover by 2.3% during the first quarter. Kinneret Advisory LLC now owns 3,715 shares of the industrial products company’s stock valued at $583,000 after purchasing an additional 84 shares during the period. Institutional investors own 85.52% of the company’s stock.

Analyst Ratings Changes

DOV has been the topic of a number of research analyst reports. Robert W. Baird initiated coverage on shares of Dover in a research report on Thursday, March 9th. They set a “buy” rating and a $176.00 price objective on the stock. The Goldman Sachs Group increased their price target on shares of Dover from $139.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, December 15th. Citigroup increased their price target on shares of Dover from $175.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday, March 6th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Dover from $137.00 to $141.00 in a research report on Monday, December 5th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $145.00 price target on shares of Dover in a research report on Thursday, March 9th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Dover currently has an average rating of “Moderate Buy” and an average price target of $159.75.

Insider Activity at Dover

In related news, CFO Brad M. Cerepak sold 34,972 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 73,878 shares of the company’s stock, valued at $10,583,023.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Dover Price Performance

Shares of NYSE DOV traded down $4.19 during midday trading on Friday, reaching $136.57. The stock had a trading volume of 1,575,099 shares, compared to its average volume of 884,490. The stock has a 50-day moving average of $148.35 and a 200-day moving average of $136.96. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.74 and a current ratio of 1.23. The company has a market capitalization of $19.08 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 1.16 and a beta of 1.36. Dover Co. has a 12-month low of $114.49 and a 12-month high of $162.88.

Dover (NYSE:DOV – Get Rating) last posted its earnings results on Tuesday, January 31st. The industrial products company reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.01. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Dover had a net margin of 12.52% and a return on equity of 28.55%. Dover’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period last year, the company posted $1.78 earnings per share. As a group, research analysts anticipate that Dover Co. will post 9 EPS for the current fiscal year.

Dover Announces Dividend

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 dividend of $0.505 per share. The ex-dividend date of this dividend was Monday, February 27th. This represents a $2.02 annualized dividend and a yield of 1.48%. Dover’s payout ratio is 27.19%.

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.