Dover Corporation $DOV Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its position in Dover Corporation (NYSE:DOV) by 19.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,875 shares of the industrial products company’s stock after acquiring an additional 5,129 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Dover were worth $6,028,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in DOV. Brighton Jones LLC increased its stake in Dover by 62.1% in the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock valued at $552,000 after purchasing an additional 1,128 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Dover by 4.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company’s stock valued at $2,526,000 after purchasing an additional 676 shares during the last quarter. Empowered Funds LLC increased its stake in Dover by 11.8% in the first quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company’s stock valued at $2,636,000 after purchasing an additional 1,580 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Dover in the second quarter valued at approximately $488,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Dover in the second quarter valued at approximately $1,030,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Transactions at Dover

In related news, VP Girish Juneja sold 1,500 shares of Dover stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $230.77, for a total value of $346,155.00. Following the transaction, the vice president directly owned 8,422 shares in the company, valued at $1,943,544.94. This trade represents a 15.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Ivonne M. Cabrera sold 4,000 shares of Dover stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total transaction of $932,920.00. Following the completion of the transaction, the senior vice president owned 72,188 shares in the company, valued at approximately $16,836,407.24. This trade represents a 5.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 82,497 shares of company stock worth $19,196,277. Insiders own 1.10% of the company’s stock.

Dover Stock Performance

Shares of DOV opened at $222.02 on Tuesday. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. The firm has a market cap of $29.93 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 1.69 and a beta of 1.25. The company’s 50 day simple moving average is $217.54 and its 200-day simple moving average is $199.82. Dover Corporation has a 12-month low of $155.45 and a 12-month high of $237.54.

Dover (NYSE:DOV) last announced its earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.09 billion. Dover had a net margin of 13.52% and a return on equity of 17.87%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $2.20 earnings per share. As a group, equities analysts predict that Dover Corporation will post 10.55 EPS for the current year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a dividend of $0.52 per share. The ex-dividend date was Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. Dover’s dividend payout ratio (DPR) is 26.20%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wall Street Zen upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Morgan Stanley set a $210.00 price target on shares of Dover in a research note on Wednesday, February 4th. Barclays set a $206.00 price target on shares of Dover in a research note on Monday, February 2nd. Wells Fargo & Company upgraded shares of Dover from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $210.00 to $230.00 in a research note on Tuesday, March 17th. Finally, Oppenheimer increased their price target on shares of Dover from $232.00 to $242.00 and gave the company an “outperform” rating in a research note on Monday. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus target price of $229.38.

Dover Company Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.