Swiss Life Asset Management Ltd Raises Stake in Dover Corporation $DOV

Swiss Life Asset Management Ltd increased its holdings in shares of Dover Corporation (NYSE:DOV) by 162.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 57,682 shares of the industrial products company’s stock after buying an additional 35,745 shares during the period. Swiss Life Asset Management Ltd’s holdings in Dover were worth $9,623,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in DOV. Mission Wealth Management LP lifted its holdings in shares of Dover by 0.8% during the third quarter. Mission Wealth Management LP now owns 7,493 shares of the industrial products company’s stock valued at $1,250,000 after purchasing an additional 58 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in shares of Dover by 4.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,513 shares of the industrial products company’s stock worth $252,000 after buying an additional 59 shares during the last quarter. Cobblestone Capital Advisors LLC NY increased its position in Dover by 2.3% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 2,774 shares of the industrial products company’s stock valued at $463,000 after buying an additional 62 shares in the last quarter. Certuity LLC increased its position in Dover by 2.5% during the 2nd quarter. Certuity LLC now owns 2,587 shares of the industrial products company’s stock valued at $474,000 after buying an additional 64 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its stake in Dover by 4.4% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 1,517 shares of the industrial products company’s stock valued at $253,000 after buying an additional 64 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wells Fargo & Company raised Dover from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $210.00 to $230.00 in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Dover from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Royal Bank Of Canada upped their price target on shares of Dover from $199.00 to $209.00 and gave the stock a “sector perform” rating in a research note on Friday, January 30th. Morgan Stanley set a $210.00 price objective on shares of Dover in a research note on Wednesday, February 4th. Finally, Wall Street Zen raised shares of Dover from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $225.67.

Dover Price Performance

Shares of NYSE:DOV opened at $209.41 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79. The firm has a market cap of $28.24 billion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 1.62 and a beta of 1.27. The business has a 50-day simple moving average of $216.02 and a two-hundred day simple moving average of $193.49. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $237.54.

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

Dover Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a $0.52 dividend. The ex-dividend date was Friday, February 27th. This represents a $2.08 annualized dividend and a yield of 1.0%. Dover’s dividend payout ratio (DPR) is currently 26.20%.

Insiders Place Their Bets

In other news, CEO Richard J. Tobin sold 76,997 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $232.70, for a total value of $17,917,201.90. Following the transaction, the chief executive officer directly owned 217,979 shares in the company, valued at $50,723,713.30. This trade represents a 26.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Ivonne M. Cabrera sold 4,000 shares of Dover stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total value of $932,920.00. Following the completion of the sale, the senior vice president directly owned 72,188 shares of the company’s stock, valued at $16,836,407.24. The trade was a 5.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 82,497 shares of company stock valued at $19,196,277. Company insiders own 1.30% of the company’s stock.

About Dover

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.