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.
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
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