Hudson Edge Investment Partners Inc. Acquires 3,132 Shares of Dover Corporation $DOV

Hudson Edge Investment Partners Inc. grew its holdings in Dover Corporation (NYSE:DOV) by 7.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,966 shares of the industrial products company’s stock after acquiring an additional 3,132 shares during the quarter. Dover accounts for approximately 1.2% of Hudson Edge Investment Partners Inc.’s investment portfolio, making the stock its 11th biggest position. Hudson Edge Investment Partners Inc.’s holdings in Dover were worth $8,389,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. State Street Corp lifted its position in shares of Dover by 1.3% during the 3rd quarter. State Street Corp now owns 6,533,361 shares of the industrial products company’s stock valued at $1,089,961,000 after acquiring an additional 86,212 shares during the period. Wellington Management Group LLP lifted its position in shares of Dover by 16.1% during the 3rd quarter. Wellington Management Group LLP now owns 2,130,657 shares of the industrial products company’s stock valued at $355,458,000 after acquiring an additional 294,856 shares during the period. Franklin Resources Inc. lifted its position in shares of Dover by 13.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,664,306 shares of the industrial products company’s stock valued at $277,656,000 after acquiring an additional 193,878 shares during the period. Fisher Asset Management LLC lifted its position in shares of Dover by 4.3% during the 3rd quarter. Fisher Asset Management LLC now owns 1,633,133 shares of the industrial products company’s stock valued at $272,456,000 after acquiring an additional 67,588 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Dover by 7.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,551,013 shares of the industrial products company’s stock valued at $258,750,000 after acquiring an additional 112,981 shares during the period. Institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DOV. BMO Capital Markets began coverage on Dover in a research report on Friday, March 27th. They set a “market perform” rating and a $237.00 target price for the company. Robert W. Baird set a $255.00 target price on Dover in a research report on Friday, January 30th. Royal Bank Of Canada upped their target price on Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Morgan Stanley set a $210.00 target price on Dover in a research note on Wednesday, February 4th. Finally, Citigroup upped their target price on Dover from $231.00 to $253.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $228.62.

Insider Activity at Dover

In other Dover news, VP Girish Juneja sold 1,500 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total value of $346,155.00. Following the completion of the transaction, the vice president directly owned 8,422 shares in the company, valued at approximately $1,943,544.94. This trade represents a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Ivonne M. Cabrera sold 4,000 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total value of $932,920.00. Following the completion of the transaction, the senior vice president owned 72,188 shares of the company’s stock, valued at $16,836,407.24. This represents a 5.25% 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 valued at $19,196,277 in the last quarter. Insiders own 1.10% of the company’s stock.

Dover Stock Down 0.1%

NYSE DOV opened at $218.82 on Monday. The business has a fifty day moving average price of $217.60 and a two-hundred day moving average price of $199.43. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28. Dover Corporation has a fifty-two week low of $155.45 and a fifty-two week high of $237.54. The stock has a market capitalization of $29.50 billion, a PE ratio of 27.56, a PEG ratio of 1.69 and a beta of 1.25.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 EPS for the quarter, beating the consensus estimate 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 net margin of 13.52% and a return on equity of 17.87%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 EPS. Equities analysts expect that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

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

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.