Nomura Asset Management Co. Ltd. increased its holdings in shares of Dover Corp (NYSE:DOV) by 13.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,404 shares of the industrial products company’s stock after acquiring an additional 3,077 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Dover were worth $2,667,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of DOV. Cerebellum GP LLC acquired a new position in Dover in the 4th quarter valued at about $133,000. Tower Research Capital LLC TRC boosted its holdings in Dover by 891.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock valued at $179,000 after purchasing an additional 1,596 shares during the last quarter. NBT Bank N A NY acquired a new position in Dover in the 3rd quarter valued at about $202,000. Somerville Kurt F acquired a new position in Dover in the 4th quarter valued at about $202,000. Finally, Associated Banc Corp acquired a new position in Dover in the 4th quarter valued at about $202,000. Hedge funds and other institutional investors own 88.17% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets reissued a “buy” rating on shares of Dover in a research note on Friday, January 26th. Stifel Nicolaus reissued a “hold” rating and issued a $112.00 price target (up from $100.00) on shares of Dover in a research note on Tuesday, January 16th. Seaport Global Securities reissued a “hold” rating and issued a $110.00 price target on shares of Dover in a research note on Friday, February 2nd. Royal Bank of Canada reaffirmed a “hold” rating and set a $105.00 target price on shares of Dover in a research note on Wednesday, January 17th. Finally, JPMorgan Chase downgraded shares of Dover from an “overweight” rating to a “neutral” rating in a research note on Monday, March 26th. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Dover currently has an average rating of “Hold” and an average target price of $107.83.
Shares of Dover stock opened at $93.19 on Friday. Dover Corp has a 12-month low of $76.47 and a 12-month high of $109.06. The company has a quick ratio of 1.01, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $14,999.24, a PE ratio of 23.12, a P/E/G ratio of 1.27 and a beta of 1.30.
Dover (NYSE:DOV) last issued its earnings results on Tuesday, January 30th. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.09. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. Dover had a net margin of 10.37% and a return on equity of 15.24%. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 EPS. research analysts expect that Dover Corp will post 5.86 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Wednesday, February 28th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Tuesday, February 27th. Dover’s dividend payout ratio is currently 46.65%.
In related news, VP Anthony K. Kosinski sold 895 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $104.34, for a total transaction of $93,384.30. Following the completion of the sale, the vice president now owns 8,516 shares in the company, valued at approximately $888,559.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Paul Goldberg sold 3,300 shares of the company’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $102.00, for a total transaction of $336,600.00. Following the transaction, the vice president now owns 4,545 shares of the company’s stock, valued at approximately $463,590. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,897 shares of company stock valued at $2,031,745. 2.50% of the stock is owned by company insiders.
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Dover Company Profile
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.
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