Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Dover Co. (NYSE:DOV) by 6.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 58,717 shares of the industrial products company’s stock after purchasing an additional 3,616 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Dover were worth $5,767,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of DOV. Boston Partners bought a new position in shares of Dover in the 1st quarter worth approximately $239,625,000. Pzena Investment Management LLC lifted its stake in shares of Dover by 5.9% in the 4th quarter. Pzena Investment Management LLC now owns 5,942,675 shares of the industrial products company’s stock worth $600,151,000 after purchasing an additional 328,864 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Dover by 408.6% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 307,688 shares of the industrial products company’s stock worth $31,073,000 after purchasing an additional 247,188 shares during the period. BlackRock Inc. lifted its stake in shares of Dover by 2.4% in the 4th quarter. BlackRock Inc. now owns 10,116,808 shares of the industrial products company’s stock worth $1,021,698,000 after purchasing an additional 234,543 shares during the period. Finally, Bain Capital Public Equity Management LLC bought a new position in shares of Dover in the 4th quarter worth approximately $20,823,000. Hedge funds and other institutional investors own 88.17% of the company’s stock.
Dover opened at $77.13 on Friday, MarketBeat reports. The company has a market capitalization of $11.89 billion, a P/E ratio of 19.14, a PEG ratio of 1.01 and a beta of 1.32. Dover Co. has a 12-month low of $75.74 and a 12-month high of $109.06. The company has a quick ratio of 0.95, a current ratio of 1.42 and a debt-to-equity ratio of 0.68.
Dover (NYSE:DOV) last announced its quarterly earnings data on Friday, April 27th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.03. Dover had a net margin of 9.71% and a return on equity of 16.48%. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the firm posted $1.09 EPS. The company’s revenue was up 6.0% on a year-over-year basis. analysts forecast that Dover Co. will post 5.86 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, May 31st will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Wednesday, May 30th. Dover’s dividend payout ratio (DPR) is currently 46.65%.
In other Dover news, VP Paul Goldberg sold 3,300 shares of the stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $102.00, for a total transaction of $336,600.00. Following the completion of the sale, the vice president now directly owns 4,545 shares of the company’s stock, valued at approximately $463,590. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Patrick Burns acquired 510 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were bought at an average cost of $97.51 per share, with a total value of $49,730.10. Following the completion of the acquisition, the senior vice president now owns 1,883 shares in the company, valued at $183,611.33. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 19,897 shares of company stock valued at $2,031,745. Insiders own 2.50% of the company’s stock.
DOV has been the topic of several recent research reports. BMO Capital Markets reiterated a “buy” rating on shares of Dover in a research note on Friday, January 26th. Stifel Nicolaus reiterated a “hold” rating and issued a $112.00 price objective (up previously from $100.00) on shares of Dover in a research note on Tuesday, January 16th. Barclays reduced their target price on shares of Dover from $120.00 to $113.00 and set an “overweight” rating for the company in a report on Monday, April 30th. ValuEngine lowered shares of Dover from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Seaport Global Securities reissued a “hold” rating and issued a $110.00 target price on shares of Dover in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $104.92.
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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