US Bancorp DE Sells 7,770 Shares of Dover Co. (NYSE:DOV)

US Bancorp DE reduced its position in Dover Co. (NYSE:DOV) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,240 shares of the industrial products company’s stock after selling 7,770 shares during the period. US Bancorp DE owned 0.08% of Dover worth $18,033,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Vontobel Holding Ltd. boosted its position in shares of 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 acquiring an additional 1,718 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Dover by 5.5% in the 4th quarter. Nordea Investment Management AB now owns 557,953 shares of the industrial products company’s stock worth $85,612,000 after buying an additional 29,096 shares in the last quarter. Vest Financial LLC grew its stake 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 worth $31,145,000 after buying an additional 53,273 shares in the last quarter. Norges Bank bought a new stake in shares of Dover in the 4th quarter worth about $175,275,000. Finally, Chartwell Investment Partners LLC raised its position in shares of Dover by 15.6% during the 3rd quarter. Chartwell Investment Partners LLC now owns 6,733 shares of the industrial products company’s stock valued at $939,000 after buying an additional 907 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insiders Place Their Bets

In other news, Director Stephen M. Todd sold 1,500 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $171.19, for a total transaction of $256,785.00. Following the transaction, the director now owns 22,955 shares in the company, valued at $3,929,666.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief financial officer now owns 17,909 shares in the company, valued at $3,164,699.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction on 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 $3,929,666.45. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Dover Stock Down 0.1 %

Shares of DOV opened at $184.18 on Friday. The firm has a market capitalization of $25.31 billion, a P/E ratio of 17.69, a P/E/G ratio of 2.28 and a beta of 1.25. Dover Co. has a 12-month low of $127.25 and a 12-month high of $187.80. The firm has a fifty day moving average price of $177.79 and a 200-day moving average price of $161.23. The company has a current ratio of 1.31, a quick ratio of 0.89 and a debt-to-equity ratio of 0.58.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.07. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Dover had a net margin of 17.28% and a return on equity of 25.04%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the company earned $1.94 EPS. Equities research analysts expect that Dover Co. will post 9.1 earnings per share for the current year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Friday, May 31st. Dover’s dividend payout ratio (DPR) is presently 19.60%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DOV. Mizuho boosted their price objective on Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a report 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 research note on Friday, April 26th. Oppenheimer increased their target price on shares of Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, Seaport Res Ptn raised shares of Dover from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $185.75.

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.