Sumitomo Mitsui DS Asset Management Company Ltd Has $3.04 Million Position in Dover Co. (NYSE:DOV)

Sumitomo Mitsui DS Asset Management Company Ltd reduced its holdings in Dover Co. (NYSE:DOV) by 1.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 19,734 shares of the industrial products company’s stock after selling 342 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Dover were worth $3,035,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Orion Capital Management LLC acquired a new stake in Dover in the 3rd quarter valued at $32,000. Headinvest LLC bought a new position in shares of Dover in the 3rd quarter valued at about $32,000. Exchange Traded Concepts LLC bought a new position in shares of Dover in the 4th quarter valued at about $33,000. AdvisorNet Financial Inc grew its position in shares of Dover by 783.3% in the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 188 shares during the period. Finally, Life Planning Partners Inc bought a new position in shares of Dover in the 4th quarter valued at about $35,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DOV. Royal Bank of Canada lifted their price objective on shares of Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Seaport Res Ptn raised shares of Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Robert W. Baird lifted their price objective on shares of Dover from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Oppenheimer lifted their target price on shares of Dover from $177.00 to $187.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. Finally, Barclays lifted their target price on shares of Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $175.13.

Dover Price Performance

Shares of Dover stock opened at $172.19 on Wednesday. Dover Co. has a twelve month low of $127.25 and a twelve month high of $178.28. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 0.59. The company has a 50-day simple moving average of $170.83 and a two-hundred day simple moving average of $153.72. The stock has a market capitalization of $23.65 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 1.76 and a beta of 1.27.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.01. Dover had a net margin of 12.52% and a return on equity of 25.95%. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the company earned $2.16 EPS. The business’s revenue was down 1.5% on a year-over-year basis. Analysts forecast that Dover Co. will post 9.06 EPS for the current year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 1.18%. The ex-dividend date was Wednesday, February 28th. Dover’s dividend payout ratio (DPR) is 27.13%.

Insiders Place Their Bets

In other news, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the transaction, the chief financial officer now owns 17,909 shares of the company’s stock, valued at $3,164,699.39. The disclosure for this sale can be found here. Insiders sold 25,910 shares of company stock worth $4,318,059 in the last quarter. 1.30% of the stock is currently 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.