Wedge Capital Management L L P NC Sells 8,847 Shares of Dover Co. (NYSE:DOV)

Wedge Capital Management L L P NC decreased its stake in shares of Dover Co. (NYSE:DOV - Free Report) by 4.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 193,849 shares of the industrial products company's stock after selling 8,847 shares during the period. Wedge Capital Management L L P NC owned 0.14% of Dover worth $29,816,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in DOV. AdvisorNet Financial Inc grew its holdings in Dover by 783.3% in the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company's stock valued at $33,000 after buying an additional 188 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in Dover in the 4th quarter valued at approximately $33,000. Life Planning Partners Inc acquired a new stake in Dover in the 4th quarter valued at approximately $35,000. Orion Capital Management LLC acquired a new stake in Dover in the 3rd quarter valued at approximately $32,000. Finally, Headinvest LLC acquired a new stake in Dover in the 3rd quarter valued at approximately $32,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Wall Street Analysts Forecast Growth

DOV has been the subject of a number of research reports. Barclays raised their price objective on Dover from $163.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 2nd. StockNews.com downgraded Dover from a "buy" rating to a "hold" rating in a research report on Friday, March 22nd. Citigroup raised their price objective on Dover from $180.00 to $205.00 and gave the stock a "buy" rating in a research report on Monday, April 8th. Robert W. Baird raised their price objective on Dover from $175.00 to $185.00 and gave the stock an "outperform" rating in a research report on Thursday, March 28th. Finally, Royal Bank of Canada raised their price objective on Dover from $146.00 to $153.00 and gave the stock a "sector perform" rating in a research report on Friday, February 2nd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Dover has an average rating of "Moderate Buy" and an average target price of $175.13.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 23,909 shares in the company, valued at approximately $3,897,406.09. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction on 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 completion of the transaction, the chief financial officer now owns 23,909 shares in the company, valued at approximately $3,897,406.09. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the completion of the transaction, the director now 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. In the last quarter, insiders sold 25,910 shares of company stock worth $4,318,059. 1.30% of the stock is currently owned by insiders.

Dover Price Performance

Shares of Dover stock traded up $0.44 during midday trading on Monday, hitting $170.28. 829,999 shares of the company were exchanged, compared to its average volume of 946,768. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.40 and a quick ratio of 0.90. The firm has a market cap of $23.39 billion, a P/E ratio of 22.64, a PEG ratio of 1.76 and a beta of 1.27. Dover Co. has a 52 week low of $127.25 and a 52 week high of $178.28. The firm has a 50 day simple moving average of $170.59 and a 200-day simple moving average of $153.48.

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

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a $0.51 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.04 annualized dividend and a yield of 1.20%. Dover's payout ratio is 27.13%.

Dover Company 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.