Amundi Pioneer Asset Management Inc. acquired a new stake in Dover Corp (NYSE:DOV) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 174,959 shares of the industrial products company’s stock, valued at approximately $17,669,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Cerebellum GP LLC bought a new stake in Dover in the 4th quarter valued at about $133,000. Tower Research Capital LLC TRC boosted its holdings in Dover by 891.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock valued at $179,000 after purchasing an additional 1,596 shares during the period. Somerville Kurt F bought a new stake in Dover in the 4th quarter valued at about $202,000. Associated Banc Corp bought a new stake in Dover in the 4th quarter valued at about $202,000. Finally, Hemenway Trust Co LLC bought a new stake in Dover in the 4th quarter valued at about $203,000. 88.32% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have issued reports on DOV. Barclays began coverage on shares of Dover in a report on Thursday, February 15th. They issued an “overweight” rating and a $120.00 price objective for the company. Zacks Investment Research raised shares of Dover from a “hold” rating to a “buy” rating and set a $119.00 price objective for the company in a report on Friday, February 2nd. Seaport Global Securities reissued a “hold” rating and issued a $110.00 price objective on shares of Dover in a report on Friday, February 2nd. BMO Capital Markets boosted their price objective on shares of Dover from $116.00 to $118.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Finally, Morgan Stanley boosted their price objective on shares of Dover from $110.00 to $113.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $107.83.
Dover (NYSE:DOV) last issued its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.09. Dover had a net margin of 10.37% and a return on equity of 15.24%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the prior year, the firm posted $1.03 EPS. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. research analysts forecast that Dover Corp will post 5.85 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Tuesday, February 27th. Dover’s dividend payout ratio (DPR) is presently 36.50%.
In related news, insider Stephen Gary Kennon sold 15,702 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $102.01, for a total value of $1,601,761.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Anthony K. Kosinski sold 895 shares of the stock in a transaction that occurred on 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 directly owns 8,516 shares of the company’s stock, valued at approximately $888,559.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,897 shares of company stock valued at $2,031,745. 2.50% of the stock is currently owned by insiders.
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Dover Company Profile
Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.
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