Dover Co. (NYSE:DOV) Shares Acquired by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its stake in Dover Co. (NYSE:DOV) by 12.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,084 shares of the industrial products company’s stock after purchasing an additional 800 shares during the quarter. Apollon Wealth Management LLC’s holdings in Dover were worth $1,090,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Orion Capital Management LLC purchased a new stake in Dover during the 3rd quarter worth approximately $32,000. Headinvest LLC purchased a new stake in shares of Dover during the third quarter worth $32,000. Exchange Traded Concepts LLC acquired a new stake in shares of Dover in the fourth quarter valued at $33,000. AdvisorNet Financial Inc grew its stake in Dover by 783.3% during the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 188 shares in the last quarter. Finally, Life Planning Partners Inc purchased a new stake in Dover during the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of DOV stock opened at $184.95 on Friday. The stock’s 50-day moving average is $174.91 and its two-hundred day moving average is $156.91. 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 1 year low of $127.25 and a 1 year high of $185.01. The firm has a market cap of $25.42 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.84 and a beta of 1.25.

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

Dover Dividend Announcement

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

Insider Transactions at Dover

In related news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 23,909 shares in the company, valued at approximately $3,897,406.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value of $256,785.00. Following the sale, the director now owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following 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. Over the last quarter, insiders sold 25,910 shares of company stock worth $4,318,059. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Royal Bank of Canada upped their target price on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Robert W. Baird increased their price objective on shares of Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Mizuho lifted their price objective on shares of Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Oppenheimer increased their target price on Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Citigroup raised their price target on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and a consensus price target of $185.75.

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.