Sentry Investment Management LLC Sells 79 Shares of Dover Co. (NYSE:DOV)

Sentry Investment Management LLC cut its position in Dover Co. (NYSE:DOV) by 9.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 736 shares of the industrial products company’s stock after selling 79 shares during the quarter. Sentry Investment Management LLC’s holdings in Dover were worth $113,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of DOV. Cornercap Investment Counsel Inc. increased its stake in shares of Dover by 5.1% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 15,364 shares of the industrial products company’s stock worth $2,363,000 after purchasing an additional 750 shares during the period. Vontobel Holding Ltd. raised its stake in Dover by 7.2% during the 4th quarter. Vontobel Holding Ltd. now owns 25,421 shares of the industrial products company’s stock valued at $3,910,000 after purchasing an additional 1,718 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Dover during the 4th quarter valued at $1,307,000. Simplicity Solutions LLC grew its position in Dover by 32.0% in the 4th quarter. Simplicity Solutions LLC now owns 3,777 shares of the industrial products company’s stock worth $581,000 after purchasing an additional 915 shares during the last quarter. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Dover in the fourth quarter valued at about $219,000. Institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on DOV. Citigroup raised their target price on Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Royal Bank of Canada upped their target price on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research note on Friday, February 2nd. Robert W. Baird raised their price target on shares of Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Oppenheimer increased their target price on Dover from $175.00 to $177.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, Seaport Res Ptn upgraded shares of Dover from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $173.88.

Dover Price Performance

DOV opened at $169.50 on Thursday. The stock has a market capitalization of $23.29 billion, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. 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 company’s 50 day simple moving average is $170.06 and its 200-day simple moving average is $152.71. Dover Co. has a one year low of $127.25 and a one year high of $178.28.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.01. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.16 billion. Dover had a return on equity of 25.95% and a net margin of 12.52%. The company’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the company earned $2.16 earnings per share. Sell-side analysts anticipate that Dover Co. will post 9.06 earnings per share for the current fiscal year.

Dover Announces Dividend

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

Insider Activity

In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 17,909 shares in the company, valued at $3,164,699.39. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Brad M. Cerepak sold 6,000 shares of Dover 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 transaction, the chief financial officer now owns 17,909 shares of the company’s stock, 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 this hyperlink. Also, CFO Brad M. Cerepak sold 18,410 shares of the company’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 transaction of $3,001,014.10. Following the completion of the sale, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The disclosure for this sale can be found here. Insiders have sold a total of 25,910 shares of company stock valued at $4,318,059 in the last 90 days. 1.30% of the stock is owned by company insiders.

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.