Dover Co. (NYSE:DOV) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in Dover Co. (NYSE:DOV) by 2.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 258,723 shares of the industrial products company’s stock after selling 5,982 shares during the quarter. California Public Employees Retirement System’s holdings in Dover were worth $39,794,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. grew its stake in Dover by 7.2% in the 4th quarter. Vontobel Holding Ltd. now owns 25,421 shares of the industrial products company’s stock valued at $3,910,000 after acquiring an additional 1,718 shares during the period. Nordea Investment Management AB boosted its stake in Dover by 5.5% during the 4th quarter. Nordea Investment Management AB now owns 557,953 shares of the industrial products company’s stock worth $85,612,000 after purchasing an additional 29,096 shares during the last quarter. Vest Financial LLC boosted its stake in Dover by 35.7% during the 4th quarter. Vest Financial LLC now owns 202,490 shares of the industrial products company’s stock worth $31,145,000 after purchasing an additional 53,273 shares during the last quarter. Chartwell Investment Partners LLC boosted its stake in Dover by 15.6% during the 3rd quarter. Chartwell Investment Partners LLC now owns 6,733 shares of the industrial products company’s stock worth $939,000 after purchasing an additional 907 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Dover by 112.9% during the 4th quarter. SG Americas Securities LLC now owns 11,409 shares of the industrial products company’s stock worth $1,755,000 after purchasing an additional 6,050 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insiders Place Their Bets

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the sale, the chief financial officer now directly owns 23,909 shares in the company, valued at $3,897,406.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the sale, the chief financial officer now directly owns 17,909 shares in the company, valued at $3,164,699.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value of $3,001,014.10. Following the transaction, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The disclosure for this sale can be found here. Insiders have sold 25,910 shares of company stock worth $4,318,059 over the last three months. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

DOV has been the topic of several recent research reports. Robert W. Baird lifted their target price on shares of Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday. Royal Bank of Canada lifted their target price on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Wells Fargo & Company lifted their target price on shares of Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a report on Friday. Finally, Seaport Res Ptn upgraded Dover from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.75.

Dover Stock Up 0.6 %

Shares of DOV opened at $180.17 on Friday. The firm has a market cap of $24.75 billion, a P/E ratio of 23.96, a price-to-earnings-growth ratio of 1.78 and a beta of 1.27. Dover Co. has a 12-month low of $127.25 and a 12-month high of $181.49. The company’s 50-day moving average price is $171.75 and its 200 day moving average price is $154.29. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.07. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.03 billion. Dover had a net margin of 12.52% and a return on equity of 25.95%. Dover’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.94 EPS. On average, sell-side analysts forecast that Dover Co. will post 9.07 earnings per share for the current year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.04 dividend on an annualized basis and a yield of 1.13%. Dover’s dividend payout ratio (DPR) is presently 27.13%.

Dover Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.