Novem Group Takes Position in Dover Corporation $DOV

Novem Group bought a new stake in Dover Corporation (NYSE:DOV) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,215 shares of the industrial products company’s stock, valued at approximately $1,213,000.

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

Dover Stock Up 1.3%

Shares of NYSE:DOV opened at $222.02 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28. The firm has a market capitalization of $29.93 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 1.69 and a beta of 1.25. The firm’s 50-day moving average is $217.54 and its two-hundred day moving average is $199.82. Dover Corporation has a 1 year low of $155.45 and a 1 year high of $237.54.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.09 billion. Dover had a net margin of 13.52% and a return on equity of 17.87%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 earnings per share. Analysts predict that Dover Corporation will post 10.55 EPS for the current year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, February 27th. Dover’s dividend payout ratio is presently 26.20%.

Insider Buying and Selling

In related news, SVP Ivonne M. Cabrera sold 4,000 shares of the company’s 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 directly owned 72,188 shares in the company, valued at approximately $16,836,407.24. This represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Girish Juneja sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total transaction of $346,155.00. Following the sale, the vice president owned 8,422 shares in the company, valued at $1,943,544.94. The trade was a 15.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 82,497 shares of company stock worth $19,196,277. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on DOV. Weiss Ratings raised shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 6th. Morgan Stanley set a $210.00 target price on shares of Dover in a research report on Wednesday, February 4th. Royal Bank Of Canada upped their target price on shares of Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Citigroup boosted their price target on shares of Dover from $231.00 to $253.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Dover from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and a consensus target price of $229.38.

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.