abrdn plc Has $9.91 Million Stock Position in Dover Co. (NYSE:DOV)

abrdn plc grew its position in Dover Co. (NYSE:DOV) by 65.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 64,405 shares of the industrial products company’s stock after buying an additional 25,464 shares during the period. abrdn plc’s holdings in Dover were worth $9,906,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. CX Institutional grew its stake in shares of Dover by 1.5% during the fourth quarter. CX Institutional now owns 4,933 shares of the industrial products company’s stock worth $759,000 after purchasing an additional 72 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Dover by 0.4% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,076 shares of the industrial products company’s stock worth $2,801,000 after purchasing an additional 83 shares during the period. Lindbrook Capital LLC grew its stake in shares of Dover by 8.1% during the third quarter. Lindbrook Capital LLC now owns 1,225 shares of the industrial products company’s stock worth $171,000 after purchasing an additional 92 shares during the period. Lido Advisors LLC grew its stake in shares of Dover by 2.7% during the third quarter. Lido Advisors LLC now owns 3,828 shares of the industrial products company’s stock worth $534,000 after purchasing an additional 101 shares during the period. Finally, JGP Wealth Management LLC grew its stake in shares of Dover by 1.1% during the third quarter. JGP Wealth Management LLC now owns 9,918 shares of the industrial products company’s stock worth $1,384,000 after purchasing an additional 109 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brad M. Cerepak sold 18,410 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now 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 have sold 25,910 shares of company stock valued at $4,318,059. 1.30% of the stock is owned by insiders.

Analyst Ratings Changes

DOV has been the subject of a number of analyst reports. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research note on Friday. Citigroup lifted their target price on Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Royal Bank of Canada lifted their target price on Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a report on Friday, February 2nd. Oppenheimer lifted their target price on Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Robert W. Baird boosted their price target on Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and an average target price of $185.75.

Dover Price Performance

Shares of NYSE DOV opened at $180.17 on Friday. The business’s 50 day moving average price is $171.75 and its two-hundred day moving average price is $154.29. The company has a market cap of $24.75 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 1.78 and a beta of 1.27. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 0.59. Dover Co. has a twelve month low of $127.25 and a twelve month high of $181.49.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. Dover had a return on equity of 25.95% and a net margin of 12.52%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the business earned $1.94 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. On average, analysts predict that Dover Co. will post 9.07 EPS for the current year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Wednesday, February 28th. Dover’s payout ratio is 27.13%.

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.