US Asset Management LLC Purchases Shares of 2,728 Dover Co. (NYSE:DOV)

US Asset Management LLC bought a new stake in shares of Dover Co. (NYSE:DOV) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,728 shares of the industrial products company’s stock, valued at approximately $420,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vontobel Holding Ltd. lifted its holdings in shares of Dover by 7.2% in the 4th quarter. Vontobel Holding Ltd. now owns 25,421 shares of the industrial products company’s stock valued at $3,910,000 after buying an additional 1,718 shares during the period. Nordea Investment Management AB lifted its holdings in Dover by 5.5% in the 4th quarter. Nordea Investment Management AB now owns 557,953 shares of the industrial products company’s stock valued at $85,612,000 after purchasing an additional 29,096 shares in the last quarter. Vest Financial LLC lifted its position in Dover by 35.7% during the fourth quarter. Vest Financial LLC now owns 202,490 shares of the industrial products company’s stock worth $31,145,000 after buying an additional 53,273 shares in the last quarter. Chartwell Investment Partners LLC grew its holdings in shares of Dover by 15.6% in the third quarter. Chartwell Investment Partners LLC now owns 6,733 shares of the industrial products company’s stock valued at $939,000 after purchasing an additional 907 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of Dover by 112.9% during the 4th quarter. SG Americas Securities LLC now owns 11,409 shares of the industrial products company’s stock valued at $1,755,000 after buying an additional 6,050 shares during the period. Institutional investors own 84.46% of the company’s stock.

Dover Price Performance

DOV stock traded up $0.99 during trading on Friday, reaching $185.94. 418,002 shares of the company were exchanged, compared to its average volume of 981,016. The company has a 50-day moving average of $174.91 and a two-hundred day moving average of $156.91. The company has a market capitalization of $25.55 billion, a price-to-earnings ratio of 17.86, a P/E/G ratio of 1.84 and a beta of 1.25. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.89. Dover Co. has a twelve month low of $127.25 and a twelve month high of $186.21.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.07. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.03 billion. Dover had a net margin of 17.28% and a return on equity of 25.04%. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business earned $1.94 EPS. As a group, equities analysts predict that Dover Co. will post 9.1 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be given a $0.51 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $2.04 annualized dividend and a yield of 1.10%. Dover’s dividend payout ratio is currently 19.60%.

Insider Activity

In other news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the completion of the transaction, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at approximately $3,897,406.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the completion of the transaction, the chief financial officer now owns 23,909 shares in the company, valued at approximately $3,897,406.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total value of $1,060,260.00. Following the completion of the sale, the chief financial officer now owns 17,909 shares in the company, valued at $3,164,699.39. The disclosure for this sale can be found here. Insiders sold a total of 25,910 shares of company stock valued at $4,318,059 in the last ninety days. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on DOV shares. Seaport Res Ptn raised shares of Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Wells Fargo & Company upped their target price on shares of Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Royal Bank of Canada boosted 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. Robert W. Baird lifted their target price on Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, Oppenheimer boosted their price target on shares of Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.75.

Dover Company Profile

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.