Elo Mutual Pension Insurance Co Boosts Holdings in Dover Corporation $DOV

Elo Mutual Pension Insurance Co lifted its position in shares of Dover Corporation (NYSE:DOV) by 39.7% during the third quarter, HoldingsChannel reports. The firm owned 21,144 shares of the industrial products company’s stock after purchasing an additional 6,007 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Dover were worth $3,527,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in DOV. Cobblestone Capital Advisors LLC NY boosted its position in Dover by 2.3% in 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 during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Dover by 4.3% in the third quarter. Fisher Asset Management LLC now owns 1,633,133 shares of the industrial products company’s stock worth $272,456,000 after acquiring an additional 67,588 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Dover in the third quarter valued at about $439,000. American Century Companies Inc. grew its stake in Dover by 3.3% during the 3rd quarter. American Century Companies Inc. now owns 778,228 shares of the industrial products company’s stock valued at $129,832,000 after purchasing an additional 24,569 shares in the last quarter. Finally, Argent Trust Co increased its holdings in Dover by 3.6% during the 3rd quarter. Argent Trust Co now owns 2,198 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 77 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Down 2.6%

DOV stock opened at $220.43 on Wednesday. The stock has a market cap of $29.73 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 1.74 and a beta of 1.27. The firm’s 50-day simple moving average is $213.05 and its 200 day simple moving average is $190.87. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $237.54. The company has a quick ratio of 1.28, a current ratio of 1.79 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last posted its earnings results on Thursday, January 29th. The industrial products company reported $2.51 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the firm earned $2.20 EPS. Dover’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, sell-side analysts predict that Dover Corporation will post 9.45 EPS for the current year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th. Dover’s payout ratio is currently 26.20%.

Insider Activity

In other Dover news, SVP Ivonne M. Cabrera sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total value of $932,920.00. Following the sale, the senior vice president directly owned 72,188 shares in the company, valued at approximately $16,836,407.24. The trade was a 5.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Girish Juneja sold 1,500 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $230.77, for a total transaction of $346,155.00. Following the completion of the sale, the vice president directly owned 8,422 shares of the company’s stock, valued at $1,943,544.94. The trade was a 15.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 85,127 shares of company stock worth $19,698,081 over the last 90 days. 1.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

DOV has been the subject of several research analyst reports. UBS Group set a $256.00 target price on Dover and gave the company a “buy” rating in a research note on Sunday, January 4th. Wall Street Zen upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Saturday. Robert W. Baird set a $255.00 price objective on shares of Dover in a report on Friday, January 30th. Wells Fargo & Company upped their target price on shares of Dover from $205.00 to $210.00 and gave the company an “equal weight” rating in a research note on Friday, January 30th. Finally, Barclays set a $206.00 price target on Dover in a research note on Monday, February 2nd. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $224.00.

Dover Company Profile

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.