Spire Wealth Management Increases Stake in Dover Co. (NYSE:DOV)

Spire Wealth Management increased its stake in shares of Dover Co. (NYSE:DOV - Free Report) by 37.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,429 shares of the industrial products company's stock after acquiring an additional 10,756 shares during the period. Spire Wealth Management's holdings in Dover were worth $5,839,000 as of its most recent SEC filing.

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

Dover Stock Performance

NYSE DOV traded up $2.74 during trading on Monday, reaching $181.73. The company's stock had a trading volume of 640,126 shares, compared to its average volume of 992,995. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $24.98 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.84 and a beta of 1.25. Dover Co. has a 12 month low of $127.25 and a 12 month high of $182.33. The firm has a 50 day moving average price of $173.44 and a 200 day moving average price of $155.86.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.03 billion. Dover had a net margin of 17.28% and a return on equity of 25.04%. The business's revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.94 EPS. As a group, equities analysts anticipate that Dover Co. will post 9.1 EPS for the current fiscal year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Friday, May 31st. Dover's dividend payout ratio is currently 19.60%.

Insider Buying and Selling at Dover

In other news, CFO Brad M. Cerepak sold 18,410 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 23,909 shares in the company, valued at approximately $3,897,406.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Brad M. Cerepak sold 6,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 17,909 shares in the company, valued at approximately $3,164,699.39. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brad M. Cerepak sold 18,410 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer now 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 sold 25,910 shares of company stock valued at $4,318,059 in the last quarter. Company insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

DOV has been the subject of a number of analyst reports. Oppenheimer lifted their price objective on shares of Dover from $187.00 to $197.00 and gave the company an "outperform" rating in a research report on Friday, April 26th. Seaport Res Ptn raised shares of Dover from a "neutral" rating to a "buy" rating in a research report on Monday, February 5th. Mizuho lifted their price objective on shares of Dover from $180.00 to $185.00 and gave the company a "buy" rating in a research report on Friday, April 26th. Royal Bank of Canada lifted their price objective on shares of Dover from $146.00 to $153.00 and gave the company a "sector perform" rating in a research report on Friday, February 2nd. Finally, Citigroup lifted their target price on shares of Dover from $180.00 to $205.00 and gave the stock a "buy" rating in a report on Monday, April 8th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $185.75.

About Dover

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.