Dover Co. (NYSE:DOV) Shares Bought by Assetmark Inc.

Assetmark Inc. boosted its position in shares of Dover Co. (NYSE:DOVGet Rating) by 53.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,251 shares of the industrial products company’s stock after buying an additional 6,369 shares during the quarter. Assetmark Inc.’s holdings in Dover were worth $2,128,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV lifted its holdings in Dover by 3.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 3,751 shares of the industrial products company’s stock valued at $437,000 after purchasing an additional 122 shares in the last quarter. Lowe Brockenbrough & Co. Inc. lifted its holdings in Dover by 0.8% during the third quarter. Lowe Brockenbrough & Co. Inc. now owns 30,531 shares of the industrial products company’s stock valued at $3,559,000 after purchasing an additional 240 shares in the last quarter. Atria Investments LLC lifted its holdings in Dover by 2.1% during the third quarter. Atria Investments LLC now owns 11,864 shares of the industrial products company’s stock valued at $1,383,000 after purchasing an additional 240 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Dover by 30.1% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 153,605 shares of the industrial products company’s stock valued at $17,907,000 after purchasing an additional 35,515 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in Dover by 6.9% during the third quarter. Pinnacle Associates Ltd. now owns 6,382 shares of the industrial products company’s stock valued at $744,000 after purchasing an additional 410 shares in the last quarter. Institutional investors and hedge funds own 85.52% of the company’s stock.

Dover Price Performance

Dover stock opened at $144.39 on Tuesday. Dover Co. has a 12-month low of $114.49 and a 12-month high of $180.00. The stock has a market cap of $20.27 billion, a P/E ratio of 17.94, a PEG ratio of 1.17 and a beta of 1.34. The company has a 50-day moving average price of $138.47 and a 200 day moving average price of $130.96. The company has a current ratio of 1.17, a quick ratio of 0.68 and a debt-to-equity ratio of 0.71.

Dover (NYSE:DOVGet Rating) last announced its quarterly earnings results on Thursday, October 20th. The industrial products company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.20 by $0.06. Dover had a net margin of 13.93% and a return on equity of 27.62%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same period last year, the business earned $1.98 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Sell-side analysts anticipate that Dover Co. will post 8.44 earnings per share for the current year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th were given a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Tuesday, November 29th. Dover’s dividend payout ratio is presently 25.09%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Dover from $135.00 to $145.00 and gave the company an “equal weight” rating in a report on Thursday, January 5th. The Goldman Sachs Group raised their price target on shares of Dover from $139.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, December 15th. Credit Suisse Group assumed coverage on shares of Dover in a research note on Monday, December 12th. They issued an “outperform” rating and a $171.00 price target on the stock. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research note on Friday, December 16th. Finally, Barclays raised their price target on shares of Dover from $122.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 5th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $149.36.

Insider Buying and Selling at Dover

In other Dover news, VP Anthony K. Kosinski sold 2,203 shares of Dover stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $126.18, for a total transaction of $277,974.54. Following the completion of the sale, the vice president now directly owns 5,353 shares in the company, valued at $675,441.54. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.20% of the company’s stock.

Dover Profile

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Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides various equipment, component, software, solution, and services that are used in aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.

Further Reading

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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