Court Place Advisors LLC Reduces Stock Holdings in Dover Co. (NYSE:DOV)

Court Place Advisors LLC reduced its stake in shares of Dover Co. (NYSE:DOV) by 1.4% during the third quarter, Holdings Channel reports. The firm owned 14,491 shares of the industrial products company’s stock after selling 199 shares during the quarter. Court Place Advisors LLC’s holdings in Dover were worth $2,778,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Dover by 153.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after acquiring an additional 1,595,611 shares during the period. American Century Companies Inc. grew its stake in Dover by 162.2% in the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock worth $124,195,000 after purchasing an additional 425,768 shares during the period. Interval Partners LP raised its holdings in Dover by 110.0% in the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock worth $105,216,000 after purchasing an additional 305,436 shares in the last quarter. Kimelman & Baird LLC purchased a new position in Dover during the second quarter valued at $17,323,000. Finally, Earnest Partners LLC boosted its holdings in shares of Dover by 31.5% during the 1st quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock valued at $70,370,000 after buying an additional 95,056 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Insider Transactions at Dover

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the sale, the chief executive officer now owns 182,928 shares of the company’s stock, valued at $33,285,578.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,383 shares of company stock worth $8,169,883 in the last ninety days. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Robert W. Baird reissued an “outperform” rating and issued a $208.00 price target on shares of Dover in a research report on Monday, July 22nd. Wolfe Research raised Dover to a “hold” rating in a research report on Friday, September 20th. Barclays boosted their target price on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Mizuho raised their price target on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.75.

Dover Stock Performance

Shares of Dover stock traded up $2.94 during trading on Friday, hitting $187.72. 161,291 shares of the company’s stock traded hands, compared to its average volume of 975,222. Dover Co. has a 1 year low of $127.25 and a 1 year high of $195.68. The business has a 50-day simple moving average of $186.66 and a 200-day simple moving average of $182.12. The stock has a market capitalization of $25.80 billion, a P/E ratio of 17.74, a PEG ratio of 2.20 and a beta of 1.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.11. Dover had a net margin of 17.58% and a return on equity of 24.94%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $2 billion. As a group, analysts forecast that Dover Co. will post 9.18 EPS for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $0.515 per share. The ex-dividend date was Friday, August 30th. This is a positive change from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a yield of 1.10%. Dover’s payout ratio is currently 19.79%.

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.