Town & Country Bank & Trust CO dba First Bankers Trust CO Sells 846 Shares of Dover Co. (NYSE:DOV)

Town & Country Bank & Trust CO dba First Bankers Trust CO lessened its stake in shares of Dover Co. (NYSE:DOV) by 8.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,010 shares of the industrial products company’s stock after selling 846 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in Dover were worth $1,596,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vontobel Holding Ltd. raised its holdings in Dover by 7.2% during the fourth quarter. Vontobel Holding Ltd. now owns 25,421 shares of the industrial products company’s stock worth $3,910,000 after acquiring an additional 1,718 shares in the last quarter. Nordea Investment Management AB raised its stake in Dover by 5.5% in the fourth quarter. Nordea Investment Management AB now owns 557,953 shares of the industrial products company’s stock valued at $85,612,000 after buying an additional 29,096 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in Dover by 9.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 226,382 shares of the industrial products company’s stock valued at $34,820,000 after buying an additional 19,156 shares during the period. Vest Financial LLC raised its stake in Dover by 35.7% in the fourth quarter. Vest Financial LLC now owns 202,490 shares of the industrial products company’s stock valued at $31,145,000 after buying an additional 53,273 shares during the period. Finally, Norges Bank bought a new stake in Dover in the fourth quarter valued at approximately $175,275,000. Institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup upped their price objective on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Barclays upped their price objective on Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Oppenheimer upped their price objective on Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Robert W. Baird upped their price objective on Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Finally, StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $185.75.

Dover Stock Performance

Shares of NYSE DOV traded up $2.00 during trading hours on Friday, reaching $180.45. 1,581,371 shares of the stock were exchanged, compared to its average volume of 1,073,027. The firm has a market capitalization of $24.80 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 2.24 and a beta of 1.24. Dover Co. has a 52 week low of $127.25 and a 52 week high of $188.64. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 1.31. The stock’s fifty day simple moving average is $181.07 and its 200 day simple moving average is $168.51.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. The business had revenue of $2.09 billion for 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 firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.94 earnings per share. Sell-side analysts predict that Dover Co. will post 9.1 EPS for the current year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Friday, May 31st. Dover’s dividend payout ratio is currently 19.60%.

Dover 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.