Bailard Inc. bought a new position in Dover Co. (NYSE:DOV – Get Rating) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,486 shares of the industrial products company’s stock, valued at approximately $201,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in DOV. Fisher Asset Management LLC boosted its holdings in shares of Dover by 49,017.9% in the third quarter. Fisher Asset Management LLC now owns 1,468,135 shares of the industrial products company’s stock worth $171,155,000 after buying an additional 1,465,146 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Dover by 27.7% in the third quarter. Nuveen Asset Management LLC now owns 2,607,299 shares of the industrial products company’s stock worth $303,959,000 after buying an additional 565,772 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Dover by 21.1% in the third quarter. Alliancebernstein L.P. now owns 2,501,261 shares of the industrial products company’s stock worth $291,597,000 after buying an additional 436,060 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of Dover by 134.8% in the third quarter. Two Sigma Advisers LP now owns 570,200 shares of the industrial products company’s stock worth $66,474,000 after buying an additional 327,400 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Dover by 41.6% during the third quarter. Price T Rowe Associates Inc. MD now owns 896,881 shares of the industrial products company’s stock worth $104,559,000 after purchasing an additional 263,414 shares during the period. 85.52% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the stock. Citigroup raised their price target on shares of Dover from $175.00 to $184.00 and gave the stock a “buy” rating in a report on Monday, March 6th. Royal Bank of Canada restated a “sector perform” rating and set a $145.00 price target on shares of Dover in a report on Thursday, March 9th. JPMorgan Chase & Co. raised their price target on shares of Dover from $140.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. Credit Suisse Group restated an “outperform” rating and set a $174.00 price target on shares of Dover in a report on Thursday, March 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Dover from $147.00 to $145.00 and set a “hold” rating for the company in a report on Wednesday, April 12th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $162.77.
Dover Price Performance
Dover (NYSE:DOV – Get Rating) last announced its earnings results on Tuesday, January 31st. The industrial products company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.01. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Dover had a net margin of 12.52% and a return on equity of 28.55%. Dover’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.78 earnings per share. As a group, research analysts expect that Dover Co. will post 8.99 EPS for the current fiscal year.
Dover Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th were paid a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Monday, February 27th. Dover’s dividend payout ratio is 27.19%.
Insider Buying and Selling at Dover
In other news, CFO Brad M. Cerepak sold 34,972 shares of the stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $143.25, for a total value of $5,009,739.00. Following the completion of the transaction, the chief financial officer now directly owns 73,878 shares of the company’s stock, valued at approximately $10,583,023.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.30% of the company’s stock.
Dover Company Profile
Dover Corp. operates as a manufacturer and solutions provider delivering innovative equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services. It operates through the following segments: Engineered Products, Clean Energy and Fueling, Imaging and Identification, Pumps and Process Solutions, and Climate and Sustainability Technologies.
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