Mitsubishi UFJ Asset Management Co. Ltd. Has $50.07 Million Position in Dover Corporation $DOV

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Dover Corporation (NYSE:DOV) by 1.6% in the third quarter, HoldingsChannel.com reports. The fund owned 300,143 shares of the industrial products company’s stock after acquiring an additional 4,703 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Dover were worth $50,073,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of DOV. Vanguard Group Inc. increased its stake in Dover by 1.4% in the second quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock valued at $3,036,722,000 after purchasing an additional 231,146 shares in the last quarter. State Street Corp grew its holdings in shares of Dover by 2.7% in the 2nd quarter. State Street Corp now owns 6,447,149 shares of the industrial products company’s stock valued at $1,181,311,000 after buying an additional 171,934 shares during the period. Geode Capital Management LLC increased its position in shares of Dover by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company’s stock valued at $629,996,000 after buying an additional 33,539 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Dover by 10.6% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,376,279 shares of the industrial products company’s stock worth $435,406,000 after buying an additional 227,653 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Dover by 717.4% during the second quarter. First Trust Advisors LP now owns 1,716,256 shares of the industrial products company’s stock worth $314,470,000 after acquiring an additional 1,506,288 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Trading Down 0.8%

Dover stock opened at $225.32 on Friday. The company has a market cap of $30.39 billion, a price-to-earnings ratio of 28.38, a P/E/G ratio of 1.73 and a beta of 1.29. The firm has a 50-day moving average of $212.11 and a 200-day moving average of $190.18. 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 one year low of $143.04 and a one year high of $237.54.

Dover (NYSE:DOV) last released its earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.03. Dover had a return on equity of 17.87% and a net margin of 13.52%.The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the company posted $2.20 earnings per share. Dover’s revenue was up 8.8% on a year-over-year basis. On average, equities analysts expect that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.08 annualized dividend and a dividend yield of 0.9%. Dover’s dividend payout ratio (DPR) is currently 26.20%.

Insider Activity at Dover

In other news, SVP Ivonne M. Cabrera sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total transaction of $932,920.00. Following the transaction, the senior vice president directly owned 72,188 shares in the company, valued at $16,836,407.24. The trade was a 5.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard J. Tobin sold 76,997 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the completion of the sale, the chief executive officer directly owned 217,979 shares in the company, valued at approximately $50,723,713.30. The trade was a 26.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 85,127 shares of company stock valued at $19,698,081. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. BNP Paribas Exane began coverage on Dover in a research report on Thursday, December 4th. They set a “neutral” rating and a $195.00 price target on the stock. JPMorgan Chase & Co. increased their target price on Dover from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Weiss Ratings lowered shares of Dover from a “buy (b)” rating to a “hold (c+)” rating in a research note on Tuesday, February 17th. Royal Bank Of Canada increased their price objective on shares of Dover from $199.00 to $209.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Finally, Barclays set a $206.00 price objective on shares of Dover in a report on Monday, February 2nd. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $224.00.

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.