Checchi Capital Advisers LLC Invests $241,000 in Dover Co. (NYSE:DOV)

Checchi Capital Advisers LLC bought a new position in Dover Co. (NYSE:DOV) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,570 shares of the industrial products company’s stock, valued at approximately $241,000.

Several other large investors have also recently modified their holdings of the business. Adage Capital Partners GP L.L.C. lifted its stake in Dover by 160.2% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock worth $199,319,000 after purchasing an additional 879,533 shares in the last quarter. Wellington Management Group LLP lifted its stake in Dover by 2,173.8% in the 3rd quarter. Wellington Management Group LLP now owns 817,125 shares of the industrial products company’s stock worth $113,997,000 after purchasing an additional 781,189 shares in the last quarter. FMR LLC lifted its stake in Dover by 10.5% in the 3rd quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock worth $333,522,000 after purchasing an additional 226,646 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Dover by 469.4% in the 4th quarter. Teacher Retirement System of Texas now owns 252,768 shares of the industrial products company’s stock worth $38,878,000 after purchasing an additional 208,378 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Dover by 53.1% in the 3rd quarter. Nordea Investment Management AB now owns 528,857 shares of the industrial products company’s stock worth $74,415,000 after purchasing an additional 183,529 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Trading Up 0.1 %

Shares of DOV opened at $185.31 on Thursday. The firm has a market cap of $25.47 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.90 and a beta of 1.25. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 1.31. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week high of $186.50. The firm has a 50 day moving average price of $176.22 and a 200-day moving average price of $158.59.

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

Dover Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $2.04 dividend on an annualized basis and a yield of 1.10%. Dover’s dividend payout ratio is currently 19.60%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Barclays lifted their price objective on shares of Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Wells Fargo & Company lifted their price objective on shares of Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Citigroup lifted 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. Finally, Royal Bank of Canada lifted their price objective on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Dover has an average rating of “Moderate Buy” and an average price target of $185.75.

Insider Activity at Dover

In related news, Director Stephen M. Todd sold 1,500 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the completion of the sale, the director now directly owns 22,955 shares in the company, valued at approximately $3,929,666.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the business’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 directly owns 17,909 shares of the company’s stock, valued at approximately $3,164,699.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the transaction, the director now directly owns 22,955 shares in the company, valued at $3,929,666.45. The disclosure for this sale can be found here. Insiders sold 25,910 shares of company stock worth $4,318,059 in the last three months. 1.30% of the stock is owned by insiders.

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.