Tounjian Advisory Partners LLC Acquires Shares of 12,252 Dover Corporation $DOV

Tounjian Advisory Partners LLC bought a new position in shares of Dover Corporation (NYSE:DOV) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,252 shares of the industrial products company’s stock, valued at approximately $2,392,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its holdings in Dover by 62.1% in the 4th quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock worth $552,000 after buying an additional 1,128 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Dover by 4.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company’s stock valued at $2,526,000 after acquiring an additional 676 shares in the last quarter. Empowered Funds LLC increased its position in shares of Dover by 11.8% during the first quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company’s stock worth $2,636,000 after acquiring an additional 1,580 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Dover during the second quarter worth about $488,000. Finally, Cetera Investment Advisers lifted its stake in shares of Dover by 1.7% in the second quarter. Cetera Investment Advisers now owns 27,711 shares of the industrial products company’s stock worth $5,077,000 after acquiring an additional 455 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Trading Down 1.0%

NYSE:DOV opened at $209.41 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.79 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $216.02 and its two-hundred day moving average is $193.62. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $237.54. The company has a market cap of $28.24 billion, a PE ratio of 26.37, a P/E/G ratio of 1.61 and a beta of 1.27.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.09 billion. Dover had a return on equity of 17.87% and a net margin of 13.52%.The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.20 EPS. On average, analysts predict that Dover Corporation will post 9.45 EPS for the current year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, February 27th. This represents a $2.08 annualized dividend and a yield of 1.0%. Dover’s payout ratio is presently 26.20%.

Insider Buying and Selling at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 4,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total transaction of $932,920.00. Following the completion of the sale, the senior vice president owned 72,188 shares in the company, valued at $16,836,407.24. The trade was a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard J. Tobin sold 76,997 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the sale, the chief executive officer directly owned 217,979 shares in the company, valued at $50,723,713.30. This trade represents a 26.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 82,497 shares of company stock worth $19,196,277 over the last 90 days. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DOV shares. Royal Bank Of Canada raised their price objective on Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Wall Street Zen raised Dover from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Wells Fargo & Company upgraded Dover from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $210.00 to $230.00 in a research note on Tuesday, March 17th. Citigroup restated a “buy” rating on shares of Dover in a research note on Monday, January 12th. Finally, Barclays set a $206.00 price target on shares of Dover in a report on Monday, February 2nd. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and a consensus price target of $225.67.

Dover Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.