AE Wealth Management LLC Purchases Shares of 127,807 Dover Corporation $DOV

Key Points

• AE Wealth Management LLC bought a new stake of 127,807 Dover shares in Q4 worth about $24.95 million, representing roughly 0.09% ownership.
• Company insiders sold 82,497 shares worth ~$19.2 million in the past three months, including CEO Richard J. Tobin who sold 76,997 shares (~$17.9 million), reducing his stake by 26.1%.
• Several brokerages have upgraded Dover (Wells Fargo to overweight, Citi raised its price target to $253), and the stock carries a consensus rating of "Moderate Buy" with an average price target of $228.62.

AE Wealth Management LLC purchased a new stake in shares of Dover Corporation (NYSE:DOV - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 127,807 shares of the industrial products company's stock, valued at approximately $24,953,000. AE Wealth Management LLC owned about 0.09% of Dover at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in shares of Dover during the third quarter worth $25,000. Tompkins Financial Corp lifted its holdings in shares of Dover by 102.7% during the fourth quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company's stock worth $30,000 after buying an additional 77 shares in the last quarter. Caldwell Trust Co acquired a new stake in shares of Dover during the second quarter worth $31,000. Westside Investment Management Inc. lifted its holdings in shares of Dover by 100.0% during the third quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company's stock worth $38,000 after buying an additional 114 shares in the last quarter. Finally, Dorato Capital Management bought a new position in shares of Dover in the fourth quarter worth $53,000. Institutional investors and hedge funds own 84.46% of the company's stock.

Insider Activity at Dover

In related news, VP Girish Juneja sold 1,500 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total value of $346,155.00. Following the completion of the sale, the vice president directly owned 8,422 shares of the company's stock, valued at approximately $1,943,544.94. This represents a 15.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard J. Tobin sold 76,997 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $232.70, for a total value of $17,917,201.90. Following the completion of the sale, the chief executive officer directly owned 217,979 shares of the company's stock, valued at $50,723,713.30. The trade was a 26.10% decrease in their ownership of the stock. 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. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DOV. Wells Fargo & Company upgraded Dover from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $210.00 to $230.00 in a research report on Tuesday, March 17th. Wall Street Zen upgraded Dover from a "hold" rating to a "buy" rating in a research report on Saturday, February 28th. Citigroup raised their price target on Dover from $231.00 to $253.00 and gave the stock a "buy" rating in a research report on Monday, April 13th. Robert W. Baird set a $255.00 price target on Dover in a research report on Friday, January 30th. Finally, Barclays set a $206.00 price target on Dover in a research report on Monday, February 2nd. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $228.62.

Dover Price Performance

Dover stock opened at $218.82 on Friday. 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 Corporation has a 52-week low of $155.45 and a 52-week high of $237.54. The stock's 50 day moving average price is $217.60 and its two-hundred day moving average price is $198.97. The stock has a market capitalization of $29.50 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 1.65 and a beta of 1.25.

Dover (NYSE:DOV - Get Free Report) last issued its earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, topping analysts' consensus estimates of $2.48 by $0.03. Dover had a return on equity of 17.87% and a net margin of 13.52%.The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period in the prior year, the firm earned $2.20 earnings per share. Dover's revenue for the quarter was up 8.8% on a year-over-year basis. On average, equities analysts predict that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, February 27th. Dover's dividend payout ratio is presently 26.20%.

Dover Company 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.

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