Pensionfund Sabic Takes $1.23 Million Position in Dover Corporation $DOV

Pensionfund Sabic acquired a new stake in shares of Dover Corporation (NYSE:DOV) during the fourth quarter, HoldingsChannel reports. The fund acquired 6,300 shares of the industrial products company’s stock, valued at approximately $1,230,000.

Other institutional investors also recently bought and sold shares of the company. Financial Life Planners bought a new position in Dover in the third quarter worth approximately $25,000. Tompkins Financial Corp increased its holdings in shares of Dover by 102.7% in the 4th quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 77 shares during the period. Vermillion & White Wealth Management Group LLC increased its holdings in shares of Dover by 122.4% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 93 shares during the period. Caldwell Trust Co bought a new position in shares of Dover in the 2nd quarter worth $31,000. Finally, Westside Investment Management Inc. lifted its stake in shares of Dover by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 114 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on DOV. Wells Fargo & Company upgraded Dover from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $210.00 to $230.00 in a research note on Tuesday, March 17th. Citigroup reissued a “buy” rating on shares of Dover in a research report on Monday, January 12th. The Goldman Sachs Group restated a “buy” rating and issued a $224.00 price target on shares of Dover in a report on Saturday, January 31st. Wall Street Zen upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Finally, Morgan Stanley set a $210.00 target price on shares of Dover in a research report on Wednesday, February 4th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus target price of $225.67.

Dover Trading Up 1.6%

NYSE:DOV opened at $215.67 on Wednesday. The company has a market capitalization of $29.09 billion, a P/E ratio of 27.16, a PEG ratio of 1.63 and a beta of 1.27. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $237.54. The firm has a fifty day simple moving average of $216.42 and a 200-day simple moving average of $194.26.

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

Dover Dividend Announcement

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

Insiders Place Their Bets

In other Dover news, CEO Richard J. Tobin sold 76,997 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the completion of the transaction, the chief executive officer directly owned 217,979 shares of the company’s stock, valued at approximately $50,723,713.30. This trade represents a 26.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Ivonne M. Cabrera sold 4,000 shares of Dover stock in a transaction that occurred 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 sale, the senior vice president owned 72,188 shares of the company’s stock, valued at approximately $16,836,407.24. The trade was a 5.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 82,497 shares of company stock valued at $19,196,277. 1.20% of the stock is owned by insiders.

About Dover

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.