Dover Corp (DOV) Shares Bought by Korea Investment CORP

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Korea Investment CORP boosted its holdings in Dover Corp (NYSE:DOV) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,865 shares of the industrial products company’s stock after acquiring an additional 400 shares during the quarter. Korea Investment CORP’s holdings in Dover were worth $4,389,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in DOV. BlackRock Inc. boosted its holdings in shares of Dover by 17.4% in the 4th quarter. BlackRock Inc. now owns 11,821,885 shares of the industrial products company’s stock worth $838,764,000 after purchasing an additional 1,754,640 shares in the last quarter. Ashler Capital LLC purchased a new position in shares of Dover in the 3rd quarter worth about $44,080,000. AXA boosted its holdings in shares of Dover by 619.8% in the 3rd quarter. AXA now owns 337,137 shares of the industrial products company’s stock worth $29,847,000 after purchasing an additional 290,300 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Dover by 3.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,827,415 shares of the industrial products company’s stock worth $781,489,000 after purchasing an additional 288,630 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in shares of Dover by 41.6% in the 3rd quarter. Neuberger Berman Group LLC now owns 981,926 shares of the industrial products company’s stock worth $86,930,000 after purchasing an additional 288,540 shares in the last quarter. Institutional investors and hedge funds own 85.73% of the company’s stock.

DOV has been the subject of a number of research reports. Zacks Investment Research cut Dover from a “buy” rating to a “hold” rating in a report on Tuesday, March 5th. Morgan Stanley cut Dover from an “overweight” rating to an “equal” rating and cut their price objective for the stock from $94.00 to $89.00 in a report on Tuesday, December 18th. Wolfe Research upgraded Dover from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 8th. Barclays cut their price objective on Dover from $97.00 to $93.00 and set an “overweight” rating for the company in a report on Monday, December 17th. Finally, UBS Group upgraded Dover from a “neutral” rating to a “buy” rating and set a $76.35 target price for the company in a report on Thursday, January 10th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $89.80.

DOV opened at $90.72 on Friday. The company has a market cap of $13.13 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 1.32 and a beta of 1.49. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.37 and a quick ratio of 0.96. Dover Corp has a one year low of $65.83 and a one year high of $93.20.

Dover (NYSE:DOV) last released its quarterly earnings results on Tuesday, January 29th. The industrial products company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.14. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.76 billion. Dover had a return on equity of 24.90% and a net margin of 7.84%. Dover’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.84 EPS. Equities research analysts forecast that Dover Corp will post 5.72 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Thursday, February 28th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Wednesday, February 27th. Dover’s payout ratio is 38.63%.

In other Dover news, VP Anthony K. Kosinski sold 4,241 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $90.53, for a total transaction of $383,937.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Carrie L. Anderson sold 9,038 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $91.95, for a total value of $831,044.10. Following the transaction, the vice president now directly owns 4,192 shares of the company’s stock, valued at approximately $385,454.40. The disclosure for this sale can be found here. Insiders have sold a total of 48,200 shares of company stock valued at $4,277,800 in the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

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Dover Profile

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual clamps, power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.

Further Reading: SEC Filing

Want to see what other hedge funds are holding DOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dover Corp (NYSE:DOV).

Institutional Ownership by Quarter for Dover (NYSE:DOV)

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