Tounjian Advisory Partners LLC Buys New Position in Dover Corporation $DOV

Tounjian Advisory Partners LLC bought a new stake in Dover Corporation (NYSE:DOV) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 12,252 shares of the industrial products company’s stock, valued at approximately $2,392,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Machina Capital S.A.S. boosted its holdings in shares of Dover by 91.8% during the third quarter. Machina Capital S.A.S. now owns 16,834 shares of the industrial products company’s stock worth $2,808,000 after purchasing an additional 8,055 shares during the last quarter. Generali Asset Management SPA SGR increased its stake in Dover by 103.4% in the third quarter. Generali Asset Management SPA SGR now owns 16,020 shares of the industrial products company’s stock valued at $2,673,000 after purchasing an additional 8,145 shares during the last quarter. SG Americas Securities LLC lifted its position in Dover by 1,644.9% during the third quarter. SG Americas Securities LLC now owns 26,749 shares of the industrial products company’s stock worth $4,463,000 after buying an additional 25,216 shares during the period. Federated Hermes Inc. lifted its position in Dover by 17.3% during the third quarter. Federated Hermes Inc. now owns 43,300 shares of the industrial products company’s stock worth $7,224,000 after buying an additional 6,399 shares during the period. Finally, Cerity Partners LLC boosted its stake in Dover by 34.4% in the 3rd quarter. Cerity Partners LLC now owns 91,061 shares of the industrial products company’s stock worth $15,192,000 after buying an additional 23,298 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $224.00 price objective on shares of Dover in a research note on Saturday, January 31st. Wells Fargo & Company raised shares of Dover from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $210.00 to $230.00 in a research report on Tuesday, March 17th. Royal Bank Of Canada boosted their target price on shares of Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Citigroup reaffirmed a “buy” rating on shares of Dover in a research note on Monday, January 12th. Finally, Barclays set a $206.00 price target on shares of Dover in a report on Monday, February 2nd. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.67.

Dover Stock Down 1.0%

Shares of NYSE:DOV opened at $209.41 on Friday. The stock has a 50-day simple moving average of $216.02 and a 200-day simple moving average of $193.62. The stock has a market capitalization of $28.24 billion, a P/E ratio of 26.37, a PEG ratio of 1.61 and a beta of 1.27. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $237.54. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79.

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

Dover Dividend Announcement

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

Insider Buying and Selling

In other Dover news, SVP Ivonne M. Cabrera sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total value of $932,920.00. Following the transaction, the senior vice president directly owned 72,188 shares of the company’s stock, valued at $16,836,407.24. This trade represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Girish Juneja sold 1,500 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total value of $346,155.00. Following the transaction, the vice president owned 8,422 shares in the company, valued at approximately $1,943,544.94. This represents a 15.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 82,497 shares of company stock valued at $19,196,277. Company insiders own 1.30% of the company’s stock.

Dover 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.