Asset Management One Co. Ltd. Boosts Holdings in Dover Corporation $DOV

Asset Management One Co. Ltd. grew its position in shares of Dover Corporation (NYSE:DOV) by 5.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,712 shares of the industrial products company’s stock after purchasing an additional 2,988 shares during the period. Asset Management One Co. Ltd.’s holdings in Dover were worth $9,962,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in DOV. Vanguard Group Inc. grew its position in Dover by 1.4% during the second quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock worth $3,036,722,000 after buying an additional 231,146 shares in the last quarter. State Street Corp grew its holdings in shares of Dover by 2.7% during the second quarter. State Street Corp now owns 6,447,149 shares of the industrial products company’s stock worth $1,181,311,000 after purchasing an additional 171,934 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Dover by 1.0% in the second quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company’s stock worth $629,996,000 after purchasing an additional 33,539 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Dover by 10.6% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,376,279 shares of the industrial products company’s stock valued at $435,406,000 after purchasing an additional 227,653 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in Dover by 717.4% during the second quarter. First Trust Advisors LP now owns 1,716,256 shares of the industrial products company’s stock valued at $314,470,000 after purchasing an additional 1,506,288 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Buying and Selling

In other Dover news, SVP Ivonne M. Cabrera sold 2,630 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $190.80, for a total value of $501,804.00. Following the completion of the transaction, the senior vice president owned 72,968 shares in the company, valued at approximately $13,922,294.40. This represents a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher B. Woenker sold 1,627 shares of the business’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $186.04, for a total transaction of $302,687.08. Following the sale, the chief financial officer owned 2,553 shares in the company, valued at approximately $474,960.12. This trade represents a 38.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on DOV. Barclays raised their price objective on shares of Dover from $195.00 to $205.00 and gave the company an “equal weight” rating in a research report on Wednesday. Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. JPMorgan Chase & Co. lifted their price target on Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. UBS Group set a $256.00 price objective on Dover and gave the stock a “buy” rating in a report on Sunday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Dover in a report on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $217.09.

Dover Stock Down 1.9%

Shares of Dover stock opened at $199.60 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31. The company has a market cap of $27.38 billion, a P/E ratio of 12.28, a PEG ratio of 1.42 and a beta of 1.31. The company’s fifty day simple moving average is $189.89 and its two-hundred day simple moving average is $181.65.

Dover (NYSE:DOV) last announced its earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. The firm had revenue of $1.78 billion for the quarter. Research analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. Dover’s dividend payout ratio is currently 12.79%.

About Dover

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.