Federated Hermes Inc. Cuts Stock Holdings in Dover Co. (NYSE:DOV)

Federated Hermes Inc. cut its stake in shares of Dover Co. (NYSE:DOV - Free Report) by 81.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,080 shares of the industrial products company's stock after selling 81,344 shares during the period. Federated Hermes Inc.'s holdings in Dover were worth $2,781,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in DOV. Vontobel Holding Ltd. boosted its position in Dover by 7.2% during the 4th quarter. Vontobel Holding Ltd. now owns 25,421 shares of the industrial products company's stock worth $3,910,000 after purchasing an additional 1,718 shares during the period. Nordea Investment Management AB lifted its holdings in Dover by 5.5% in the 4th quarter. Nordea Investment Management AB now owns 557,953 shares of the industrial products company's stock worth $85,612,000 after buying an additional 29,096 shares in the last quarter. Vest Financial LLC lifted its holdings in Dover by 35.7% in the 4th quarter. Vest Financial LLC now owns 202,490 shares of the industrial products company's stock worth $31,145,000 after buying an additional 53,273 shares in the last quarter. Chartwell Investment Partners LLC lifted its holdings in Dover by 15.6% in the 3rd quarter. Chartwell Investment Partners LLC now owns 6,733 shares of the industrial products company's stock worth $939,000 after buying an additional 907 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Dover by 112.9% in the 4th quarter. SG Americas Securities LLC now owns 11,409 shares of the industrial products company's stock worth $1,755,000 after buying an additional 6,050 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DOV has been the topic of a number of recent analyst reports. Citigroup boosted their price objective on shares of Dover from $180.00 to $205.00 and gave the stock a "buy" rating in a report on Monday, April 8th. Oppenheimer upped their target price on shares of Dover from $187.00 to $197.00 and gave the company an "outperform" rating in a research note on Friday. Seaport Res Ptn upgraded shares of Dover from a "neutral" rating to a "buy" rating in a research note on Monday, February 5th. Wells Fargo & Company upped their target price on shares of Dover from $177.00 to $190.00 and gave the company an "equal weight" rating in a research note on Friday. Finally, StockNews.com upgraded shares of Dover from a "hold" rating to a "buy" rating in a research note on Friday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $185.75.

Insider Activity

In other news, CFO Brad M. Cerepak sold 6,000 shares of the firm's stock in a transaction on 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 transaction, the chief financial officer now owns 17,909 shares in the company, valued at approximately $3,164,699.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction on Friday, February 23rd. The shares were 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 owns 23,909 shares in the company, valued at approximately $3,897,406.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brad M. Cerepak sold 6,000 shares of Dover stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the transaction, the chief financial officer now owns 17,909 shares in the company, valued at approximately $3,164,699.39. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,910 shares of company stock worth $4,318,059. 1.30% of the stock is owned by corporate insiders.

Dover Price Performance

Dover stock traded up $1.06 during mid-day trading on Friday, hitting $180.17. The company's stock had a trading volume of 1,104,050 shares, compared to its average volume of 933,109. The stock's fifty day moving average price is $171.75 and its two-hundred day moving average price is $154.47. Dover Co. has a twelve month low of $127.25 and a twelve month high of $181.49. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $24.75 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.87 and a beta of 1.27.

Dover (NYSE:DOV - Get Free Report) last issued its earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.88 by $0.07. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.03 billion. Dover had a net margin of 17.28% and a return on equity of 25.41%. The company's revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the business posted $1.94 EPS. Research analysts forecast that Dover Co. will post 9.1 earnings per share for the current year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.13%. Dover's dividend payout ratio is currently 19.60%.

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.