Johnson Financial Group Inc. Acquires 1,380 Shares of Dover Corp (DOV)

Johnson Financial Group Inc. boosted its position in Dover Corp (NYSE:DOV) by 177.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,156 shares of the industrial products company’s stock after purchasing an additional 1,380 shares during the period. Johnson Financial Group Inc.’s holdings in Dover were worth $218,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new stake in Dover in the 4th quarter worth approximately $133,000. Benjamin F. Edwards & Company Inc. grew its stake in Dover by 388.2% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,694 shares of the industrial products company’s stock worth $155,000 after acquiring an additional 1,347 shares during the period. Tower Research Capital LLC TRC grew its stake in Dover by 891.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock worth $179,000 after acquiring an additional 1,596 shares during the period. Cape Cod Five Cents Savings Bank purchased a new stake in Dover in the 3rd quarter worth approximately $201,000. Finally, NBT Bank N A NY purchased a new stake in Dover in the 3rd quarter worth approximately $202,000. 87.22% of the stock is owned by hedge funds and other institutional investors.

Shares of Dover Corp (DOV) opened at $102.06 on Friday. Dover Corp has a 12 month low of $75.51 and a 12 month high of $109.06. The stock has a market cap of $15,439.35, a price-to-earnings ratio of 24.81, a PEG ratio of 1.31 and a beta of 1.28. The company has a current ratio of 1.40, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.

Dover (NYSE:DOV) last announced its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.09. Dover had a net margin of 10.37% and a return on equity of 15.24%. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same period in the previous year, the company earned $1.03 EPS. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. sell-side analysts predict that Dover Corp will post 5.85 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be paid a dividend of $0.47 per share. The ex-dividend date is Tuesday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 1.84%. Dover’s dividend payout ratio is presently 36.50%.

Several analysts have commented on the stock. BMO Capital Markets lifted their target price on shares of Dover from $116.00 to $118.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Morgan Stanley lifted their target price on shares of Dover from $110.00 to $113.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. SunTrust Banks lifted their target price on shares of Dover to $106.00 and gave the stock a “hold” rating in a research note on Wednesday, January 31st. ValuEngine cut shares of Dover from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Zacks Investment Research raised shares of Dover from a “hold” rating to a “buy” rating and set a $119.00 target price for the company in a research note on Friday, February 2nd. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Dover currently has an average rating of “Hold” and a consensus price target of $107.83.

In other news, insider Stephen Gary Kennon sold 15,702 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $102.01, for a total transaction of $1,601,761.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.50% of the stock is owned by insiders.

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Dover Company Profile

Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.

Want to see what other hedge funds are holding DOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dover Corp (NYSE:DOV).

Institutional Ownership by Quarter for Dover (NYSE:DOV)

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