ICW Investment Advisors LLC Raises Stake in Dover Co. (NYSE:DOV)

ICW Investment Advisors LLC grew its stake in shares of Dover Co. (NYSE:DOV) by 2.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,746 shares of the industrial products company’s stock after purchasing an additional 250 shares during the quarter. ICW Investment Advisors LLC’s holdings in Dover were worth $1,653,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. AdvisorNet Financial Inc raised its holdings in shares of Dover by 783.3% in the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 188 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Dover in the fourth quarter valued at about $33,000. Life Planning Partners Inc bought a new stake in shares of Dover in the fourth quarter valued at about $35,000. Orion Capital Management LLC bought a new stake in shares of Dover in the third quarter valued at about $32,000. Finally, Headinvest LLC bought a new stake in shares of Dover in the third quarter valued at about $32,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DOV. Seaport Res Ptn upgraded shares of Dover from a “neutral” rating to a “buy” rating in a report on Monday, February 5th. Oppenheimer upped their target price on Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Robert W. Baird upped their target price on Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Barclays upped their target price on Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Finally, Citigroup upped their target price on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $185.75.

Dover Price Performance

Shares of DOV stock traded down $0.73 during trading hours on Wednesday, hitting $178.57. 790,112 shares of the company’s stock were exchanged, compared to its average volume of 976,803. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. The firm has a market cap of $24.54 billion, a P/E ratio of 17.06, a P/E/G ratio of 1.85 and a beta of 1.27. The firm has a 50 day moving average of $172.50 and a two-hundred day moving average of $155.04. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week high of $182.33.

Dover (NYSE:DOV) last announced its earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.07. Dover had a return on equity of 25.04% and a net margin of 17.28%. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the company posted $1.94 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. Sell-side analysts forecast that Dover Co. will post 9.1 EPS for the current year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Wednesday, February 28th. Dover’s dividend payout ratio is currently 19.60%.

Insiders Place Their Bets

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s 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 sale, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Dover news, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction dated Thursday, March 7th. The stock was 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 directly owns 22,955 shares of the company’s stock, valued at approximately $3,929,666.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction dated 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 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 three months. 1.30% of the stock is currently owned by 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.