iA Global Asset Management Inc. Has $699,000 Position in Dover Co. (NYSE:DOV)

iA Global Asset Management Inc. lifted its holdings in shares of Dover Co. (NYSE:DOV) by 3.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,872 shares of the industrial products company’s stock after buying an additional 135 shares during the period. iA Global Asset Management Inc.’s holdings in Dover were worth $699,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new position in shares of Dover during the 4th quarter worth approximately $8,311,000. CWM LLC increased its stake in shares of Dover by 14.5% during the 4th quarter. CWM LLC now owns 2,391 shares of the industrial products company’s stock worth $368,000 after purchasing an additional 302 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Dover by 3.1% in the 4th quarter. Truist Financial Corp now owns 34,620 shares of the industrial products company’s stock valued at $5,325,000 after purchasing an additional 1,036 shares during the period. Russell Investments Group Ltd. lifted its stake in Dover by 47.4% in the 4th quarter. Russell Investments Group Ltd. now owns 110,479 shares of the industrial products company’s stock valued at $16,995,000 after purchasing an additional 35,540 shares during the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC acquired a new position in Dover during the fourth quarter worth approximately $261,000. Institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DOV shares. Mizuho lifted their target price on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Robert W. Baird reissued an “outperform” rating and issued a $208.00 price objective on shares of Dover in a research report on Monday, July 22nd. Finally, Royal Bank of Canada lifted their target price on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $192.63.

Dover Stock Up 1.9 %

Shares of DOV opened at $186.03 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Dover Co. has a 12 month low of $127.25 and a 12 month high of $192.31. The firm’s 50 day moving average is $180.50 and its 200-day moving average is $177.33. The stock has a market capitalization of $25.57 billion, a PE ratio of 17.87, a P/E/G ratio of 2.13 and a beta of 1.22.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the previous year, the firm earned $2.05 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts forecast that Dover Co. will post 9.15 EPS for the current year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Friday, August 30th. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio is 19.79%.

Insider Buying and Selling

In other news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the transaction, the chief executive officer now owns 182,928 shares in the company, valued at approximately $33,285,578.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the sale, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brad M. Cerepak sold 4,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total transaction of $801,305.19. Following the completion of the sale, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,274,887.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,565 shares of company stock worth $5,576,733. Corporate insiders own 1.30% of the company’s stock.

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.