Cerity Partners LLC Grows Holdings in Dover Co. (NYSE:DOV)

Cerity Partners LLC raised its stake in shares of Dover Co. (NYSE:DOV - Free Report) by 58.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 42,575 shares of the industrial products company's stock after purchasing an additional 15,623 shares during the period. Cerity Partners LLC's holdings in Dover were worth $6,549,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. AdvisorNet Financial Inc grew its holdings in Dover by 783.3% during the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 188 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Dover in the fourth quarter worth about $33,000. Life Planning Partners Inc bought a new position in shares of Dover in the fourth quarter worth about $35,000. Orion Capital Management LLC bought a new position in shares of Dover in the third quarter worth about $32,000. Finally, Headinvest LLC bought a new position in shares of Dover in the third quarter worth about $32,000. Institutional investors own 84.46% of the company's stock.

Dover Trading Up 0.3 %

DOV stock traded up $0.46 during midday trading on Tuesday, reaching $171.13. 852,649 shares of the company traded hands, compared to its average volume of 942,831. Dover Co. has a 52-week low of $127.25 and a 52-week high of $178.28. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40. The business has a 50 day moving average of $169.88 and a 200-day moving average of $152.59. The firm has a market capitalization of $23.51 billion, a price-to-earnings ratio of 22.76, a P/E/G ratio of 1.79 and a beta of 1.27.

Dover (NYSE:DOV - Get Free Report) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.01. Dover had a return on equity of 25.95% and a net margin of 12.52%. The firm had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the business posted $2.16 earnings per share. The company's revenue for the quarter was down 1.5% on a year-over-year basis. As a group, sell-side analysts expect that Dover Co. will post 9.06 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.51 per share. The ex-dividend date was Wednesday, February 28th. This represents a $2.04 annualized dividend and a yield of 1.19%. Dover's payout ratio is currently 27.13%.

Wall Street Analyst Weigh In

DOV has been the subject of a number of recent analyst reports. Citigroup upped their price objective on Dover from $180.00 to $205.00 and gave the stock a "buy" rating in a research note on Monday, April 8th. Seaport Res Ptn raised Dover from a "neutral" rating to a "buy" rating in a research note on Monday, February 5th. Barclays increased their price target on Dover from $163.00 to $180.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 2nd. Oppenheimer increased their price target on Dover from $175.00 to $177.00 and gave the company an "outperform" rating in a research note on Friday, February 2nd. Finally, Robert W. Baird increased their price target on Dover from $175.00 to $185.00 and gave the company an "outperform" rating in a research note on Thursday, March 28th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $173.88.

Insiders Place Their Bets

In other Dover news, Director Stephen M. Todd sold 1,500 shares of the firm's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $171.19, for a total transaction of $256,785.00. Following the transaction, the director now directly owns 22,955 shares in the company, valued at approximately $3,929,666.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction on Friday, February 23rd. The stock was 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 owns 23,909 shares of the company's stock, valued at approximately $3,897,406.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen M. Todd sold 1,500 shares of the firm's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $171.19, for a total value of $256,785.00. Following the completion of the sale, the director now directly owns 22,955 shares of the company's stock, valued at approximately $3,929,666.45. The disclosure for this sale can be found here. Insiders have sold 25,910 shares of company stock worth $4,318,059 in the last ninety days. 1.30% of the stock is owned by company insiders.

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.