6,215 Shares in Dover Corporation $DOV Acquired by Novem Group

Novem Group bought a new position in shares of Dover Corporation (NYSE:DOV) during the fourth quarter, Holdings Channel.com reports. The fund bought 6,215 shares of the industrial products company’s stock, valued at approximately $1,213,000.

A number of other large investors have also recently made changes to their positions 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. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Price Performance

DOV stock opened at $222.02 on Tuesday. The company has a market capitalization of $29.93 billion, a P/E ratio of 27.96, a PEG ratio of 1.69 and a beta of 1.25. Dover Corporation has a twelve month low of $155.45 and a twelve month high of $237.54. The business has a 50 day simple moving average of $217.54 and a 200-day simple moving average of $199.82. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35.

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

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, February 27th. Dover’s dividend payout ratio is presently 26.20%.

Insider Activity

In other news, VP Girish Juneja sold 1,500 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total value of $346,155.00. Following the completion of the sale, the vice president directly owned 8,422 shares of the company’s stock, valued at approximately $1,943,544.94. This represents a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard J. Tobin sold 76,997 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $232.70, for a total value of $17,917,201.90. Following the completion of the sale, the chief executive officer directly owned 217,979 shares of the company’s stock, valued at $50,723,713.30. The trade was a 26.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 82,497 shares of company stock valued at $19,196,277. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on DOV. 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. 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. Royal Bank Of Canada increased their price target on shares of Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. BMO Capital Markets began coverage on shares of Dover in a research note on Friday, March 27th. They issued a “market perform” rating and a $237.00 price target on the stock. Finally, Citigroup increased their price target on shares of Dover from $231.00 to $253.00 and gave the company a “buy” rating in a research note on Monday, April 13th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and a consensus target price of $229.38.

Dover 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.