Dover Co. (NYSE:DOV) Shares Bought by Syon Capital LLC

Syon Capital LLC increased its stake in Dover Co. (NYSE:DOV) by 23.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,167 shares of the industrial products company’s stock after buying an additional 416 shares during the period. Syon Capital LLC’s holdings in Dover were worth $333,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. FMR LLC boosted its position in shares of Dover by 10.5% in the third quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock worth $333,522,000 after buying an additional 226,646 shares during the period. Northern Trust Corp boosted its position in shares of Dover by 5.5% in the third quarter. Northern Trust Corp now owns 1,724,613 shares of the industrial products company’s stock worth $240,601,000 after buying an additional 89,774 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in shares of Dover by 160.2% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock worth $199,319,000 after buying an additional 879,533 shares during the period. Invesco Ltd. boosted its position in shares of Dover by 14.9% in the third quarter. Invesco Ltd. now owns 1,025,505 shares of the industrial products company’s stock worth $143,068,000 after buying an additional 133,241 shares during the period. Finally, Corient Private Wealth LLC boosted its position in shares of Dover by 3.6% in the third quarter. Corient Private Wealth LLC now owns 992,449 shares of the industrial products company’s stock worth $138,457,000 after buying an additional 34,207 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wells Fargo & Company raised their target price on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday. Oppenheimer lifted their price objective on Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research report on Friday. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research report on Friday. Royal Bank of Canada lifted their price objective on Dover from $146.00 to $153.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Finally, Seaport Res Ptn raised Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $185.75.

Dover Trading Up 0.6 %

Shares of DOV opened at $180.17 on Friday. Dover Co. has a 12-month low of $127.25 and a 12-month high of $181.49. The company has a quick ratio of 0.90, a current ratio of 1.40 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $24.75 billion, a price-to-earnings ratio of 17.31, a P/E/G ratio of 1.87 and a beta of 1.27. The stock’s 50-day moving average price is $171.75 and its 200 day moving average price is $154.38.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.07. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 25.41% and a net margin of 17.28%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.94 earnings per share. As a group, research analysts predict that Dover Co. will post 9.1 earnings per share for the current year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Wednesday, February 28th. Dover’s payout ratio is 19.60%.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value of $3,001,014.10. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $171.19, for a total value of $256,785.00. Following the completion of the transaction, the director now directly owns 22,955 shares in the company, valued at $3,929,666.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,910 shares of company stock valued at $4,318,059. 1.30% of the stock is currently owned by corporate insiders.

Dover 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.