Russell Investments Group Ltd. Buys 35,540 Shares of Dover Co. (NYSE:DOV)

Russell Investments Group Ltd. grew its stake in shares of Dover Co. (NYSE:DOV) by 47.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,479 shares of the industrial products company’s stock after buying an additional 35,540 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of Dover worth $16,995,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. grew its holdings in Dover by 160.2% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock valued at $199,319,000 after purchasing an additional 879,533 shares during the period. Wellington Management Group LLP raised its stake in Dover by 2,173.8% during the 3rd quarter. Wellington Management Group LLP now owns 817,125 shares of the industrial products company’s stock worth $113,997,000 after buying an additional 781,189 shares during the period. FMR LLC lifted its holdings in Dover by 10.5% during the third quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock worth $333,522,000 after acquiring an additional 226,646 shares in the last quarter. Nordea Investment Management AB grew its stake in Dover by 53.1% in the third quarter. Nordea Investment Management AB now owns 528,857 shares of the industrial products company’s stock valued at $74,415,000 after acquiring an additional 183,529 shares during the period. Finally, Retirement Systems of Alabama increased its holdings in shares of Dover by 480.7% in the third quarter. Retirement Systems of Alabama now owns 184,563 shares of the industrial products company’s stock worth $25,748,000 after acquiring an additional 152,778 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Royal Bank of Canada boosted their price objective on Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Oppenheimer raised their price objective on shares of Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Citigroup increased 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. Barclays boosted their price target on Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Finally, Seaport Res Ptn raised Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $185.75.

Dover Stock Up 0.8 %

NYSE:DOV opened at $179.05 on Friday. The firm has a market capitalization of $24.61 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 1.83 and a beta of 1.25. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.58. Dover Co. has a twelve month low of $127.25 and a twelve month high of $182.33. The stock’s 50 day moving average price is $173.14 and its two-hundred day moving average price is $155.36.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Dover had a net margin of 17.28% and a return on equity of 25.04%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the company posted $1.94 earnings per share. Equities research analysts expect that Dover Co. will post 9.1 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.14%. Dover’s payout ratio is 19.60%.

Insider Transactions at Dover

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the completion of the sale, the chief financial officer now owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $163.01, for a total value of $3,001,014.10. Following the transaction, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $171.19, for a total transaction of $256,785.00. Following the sale, the director now directly owns 22,955 shares of the company’s stock, valued at approximately $3,929,666.45. The disclosure for this sale can be found here. In the last three months, insiders sold 25,910 shares of company stock worth $4,318,059. 1.30% of the stock is owned by company insiders.

Dover Company Profile

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.