AMF Pensionsforsakring AB increased its position in Dover Co. (NYSE:DOV) by 5.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 82,072 shares of the industrial products company’s stock after acquiring an additional 4,010 shares during the period. AMF Pensionsforsakring AB owned approximately 0.05% of Dover worth $8,061,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in shares of Dover by 1.3% in the 1st quarter. BlackRock Inc. now owns 10,252,508 shares of the industrial products company’s stock worth $1,007,002,000 after acquiring an additional 135,700 shares during the period. Pzena Investment Management LLC increased its holdings in shares of Dover by 5.9% in the 4th quarter. Pzena Investment Management LLC now owns 5,942,675 shares of the industrial products company’s stock worth $600,151,000 after acquiring an additional 328,864 shares during the period. Boston Partners acquired a new stake in shares of Dover in the 1st quarter worth about $239,625,000. Geode Capital Management LLC increased its holdings in shares of Dover by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 1,648,952 shares of the industrial products company’s stock worth $166,172,000 after acquiring an additional 65,613 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in shares of Dover by 8.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,639,735 shares of the industrial products company’s stock worth $165,597,000 after acquiring an additional 125,626 shares during the period. 85.65% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Anthony K. Kosinski sold 895 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $104.34, for a total transaction of $93,384.30. Following the completion of the transaction, the vice president now owns 8,516 shares in the company, valued at approximately $888,559.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Patrick Burns acquired 510 shares of Dover stock in a transaction dated Friday, March 2nd. The shares were acquired at an average price of $97.51 per share, with a total value of $49,730.10. Following the transaction, the senior vice president now owns 1,883 shares in the company, valued at approximately $183,611.33. The disclosure for this purchase can be found here. Company insiders own 2.50% of the company’s stock.
Dover stock opened at $79.14 on Friday. The stock has a market cap of $12.34 billion, a price-to-earnings ratio of 19.64, a P/E/G ratio of 1.27 and a beta of 1.32. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.95 and a current ratio of 1.42. Dover Co. has a 52 week low of $62.10 and a 52 week high of $88.11.
Dover (NYSE:DOV) last posted its quarterly earnings data on Friday, April 27th. The industrial products company reported $1.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.03. Dover had a net margin of 9.71% and a return on equity of 16.48%. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the firm posted $1.09 EPS. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. research analysts forecast that Dover Co. will post 4.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be given a dividend of $0.47 per share. The ex-dividend date is Wednesday, May 30th. This represents a $1.88 annualized dividend and a dividend yield of 2.38%. Dover’s dividend payout ratio (DPR) is 46.65%.
A number of research firms recently weighed in on DOV. BMO Capital Markets increased their price objective on shares of Dover from $116.00 to $118.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Morgan Stanley raised their target price on shares of Dover from $110.00 to $113.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Citigroup lowered their target price on shares of Dover from $115.00 to $105.00 and set a “neutral” rating on the stock in a research note on Monday, April 30th. Stifel Nicolaus raised their target price on shares of Dover from $102.00 to $104.00 and gave the company a “hold” rating in a research note on Monday, April 30th. Finally, Barclays lowered their target price on shares of Dover from $120.00 to $113.00 and set an “overweight” rating on the stock in a research note on Monday, April 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. Dover presently has a consensus rating of “Hold” and a consensus price target of $104.92.
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.
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