Syon Capital LLC Increases Stock Position in Dover Co. (NYSE:DOV)

Syon Capital LLC lifted its holdings in Dover Co. (NYSE:DOV) by 23.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,167 shares of the industrial products company’s stock after purchasing an additional 416 shares during the period. Syon Capital LLC’s holdings in Dover were worth $333,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. AdvisorNet Financial Inc grew its holdings in Dover by 783.3% during the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after buying an additional 188 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Dover in the fourth quarter valued at about $33,000. Life Planning Partners Inc bought a new stake in shares of Dover in the fourth quarter valued at about $35,000. Orion Capital Management LLC bought a new position in Dover in the third quarter worth about $32,000. Finally, Headinvest LLC bought a new position in Dover in the third quarter worth about $32,000. Institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DOV. Royal Bank of Canada boosted their price target on Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Oppenheimer boosted their price target on Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a report on Friday. Citigroup boosted their price target on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 8th. Mizuho upped their target price on Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Wells Fargo & Company increased their price objective on Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and an average price target of $185.75.

Dover Stock Up 0.6 %

NYSE DOV opened at $180.17 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40. The business has a fifty day moving average price of $171.75 and a 200 day moving average price of $154.38. The company has a market cap of $24.75 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.87 and a beta of 1.27. Dover Co. has a one year low of $127.25 and a one year high of $181.49.

Dover (NYSE:DOV) last issued its earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.07. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Dover had a return on equity of 25.41% and a net margin of 17.28%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business earned $1.94 EPS. Research analysts anticipate that Dover Co. will post 9.1 EPS for the current fiscal year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.13%. The ex-dividend date was Wednesday, February 28th. Dover’s payout ratio is currently 19.60%.

Insider Buying and Selling at Dover

In other Dover news, 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 completion of the sale, the chief financial officer now directly owns 23,909 shares in the company, valued at approximately $3,897,406.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $171.19, for a total transaction of $256,785.00. Following the completion of the transaction, the director now directly owns 22,955 shares in the company, valued at approximately $3,929,666.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Brad M. Cerepak sold 18,410 shares of the 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 transaction, 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. Insiders sold a total of 25,910 shares of company stock worth $4,318,059 in the last three months. 1.30% of the stock is owned by corporate insiders.

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.