Tokio Marine Asset Management Co. Ltd. Increases Stake in Dover Co. (NYSE:DOV)

Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Dover Co. (NYSE:DOV) by 5.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,885 shares of the industrial products company’s stock after acquiring an additional 155 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Dover were worth $444,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. AdvisorNet Financial Inc increased its position in Dover by 783.3% during the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 188 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in Dover in the fourth quarter valued at approximately $33,000. Life Planning Partners Inc acquired a new stake in shares of Dover during the fourth quarter worth approximately $35,000. Orion Capital Management LLC acquired a new stake in shares of Dover during the third quarter worth approximately $32,000. Finally, Headinvest LLC acquired a new stake in shares of Dover during the third quarter worth approximately $32,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DOV. Oppenheimer raised their price objective on Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays raised their price objective on Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Friday. Royal Bank of Canada raised their price objective on Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. Seaport Res Ptn upgraded Dover from a “neutral” rating to a “buy” rating in a research note on Monday, February 5th. Finally, StockNews.com upgraded Dover from a “hold” rating to a “buy” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $185.75.

Insider Activity at Dover

In related news, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the sale, the director now directly owns 22,955 shares in the company, valued at $3,929,666.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Stephen M. Todd sold 1,500 shares of Dover stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the sale, the director now directly owns 22,955 shares in the company, valued at $3,929,666.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the sale, the chief financial officer now owns 23,909 shares in the company, valued at $3,897,406.09. The disclosure for this sale can be found here. Insiders have sold a total of 25,910 shares of company stock worth $4,318,059 over the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Dover Stock Performance

DOV stock opened at $180.17 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40. The stock has a market capitalization of $24.75 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.87 and a beta of 1.27. Dover Co. has a 1 year low of $127.25 and a 1 year high of $181.49. The stock’s fifty day moving average is $171.75 and its two-hundred day moving average is $154.47.

Dover (NYSE:DOV) last posted its earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. Dover had a return on equity of 25.41% and a net margin of 17.28%. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same period last year, the business posted $1.94 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. On average, research analysts predict that Dover Co. will post 9.1 EPS for the current year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Wednesday, February 28th. Dover’s dividend payout ratio is currently 19.60%.

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.