Farther Finance Advisors LLC Grows Stake in Dover Corporation $DOV

Key Points

• Farther Finance Advisors LLC increased its stake in Dover Corporation by 996.6% in Q4, adding 8,850 shares to own 9,738 shares worth about $1.90 million.
• Insiders have been net sellers recently—CEO Richard J. Tobin sold 76,997 shares and SVP Ivonne M. Cabrera sold 4,000 (total insider sales of 82,497 shares, ~$19.2M)—while institutional ownership remains high at 84.46%.
• Dover beat quarterly EPS estimates with revenue up 8.8%, pays a $0.52 quarterly dividend (≈1.0% yield), and carries a consensus analyst rating of "Moderate Buy" with an average target of $228.62.

Farther Finance Advisors LLC raised its stake in Dover Corporation (NYSE:DOV - Free Report) by 996.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,738 shares of the industrial products company's stock after purchasing an additional 8,850 shares during the quarter. Farther Finance Advisors LLC's holdings in Dover were worth $1,901,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Machina Capital S.A.S. raised its position in Dover by 91.8% in the third quarter. Machina Capital S.A.S. now owns 16,834 shares of the industrial products company's stock valued at $2,808,000 after purchasing an additional 8,055 shares during the period. Generali Asset Management SPA SGR raised its position in Dover by 103.4% in the third quarter. Generali Asset Management SPA SGR now owns 16,020 shares of the industrial products company's stock valued at $2,673,000 after purchasing an additional 8,145 shares during the period. SG Americas Securities LLC raised its position in Dover by 1,644.9% in the third quarter. SG Americas Securities LLC now owns 26,749 shares of the industrial products company's stock valued at $4,463,000 after purchasing an additional 25,216 shares during the period. Federated Hermes Inc. grew its stake in shares of Dover by 17.3% during the third quarter. Federated Hermes Inc. now owns 43,300 shares of the industrial products company's stock valued at $7,224,000 after acquiring an additional 6,399 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in shares of Dover by 34.4% during the third quarter. Cerity Partners LLC now owns 91,061 shares of the industrial products company's stock valued at $15,192,000 after acquiring an additional 23,298 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Down 0.1%

Shares of Dover stock opened at $218.82 on Monday. The company has a quick ratio of 1.28, a current ratio of 1.79 and a debt-to-equity ratio of 0.35. The firm has a market cap of $29.50 billion, a P/E ratio of 27.56, a P/E/G ratio of 1.69 and a beta of 1.25. Dover Corporation has a fifty-two week low of $155.45 and a fifty-two week high of $237.54. The business has a 50-day moving average price of $217.60 and a 200 day moving average price of $199.43.

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

Dover Dividend Announcement

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

Wall Street Analysts Forecast Growth

DOV has been the subject of several recent analyst reports. Wells Fargo & Company upgraded Dover from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $210.00 to $230.00 in a research note on Tuesday, March 17th. Oppenheimer raised their target price on Dover from $228.00 to $232.00 and gave the company an "outperform" rating in a research note on Monday, January 26th. Barclays set a $206.00 target price on Dover in a research note on Monday, February 2nd. BMO Capital Markets initiated coverage on Dover in a research note on Friday, March 27th. They set a "market perform" rating and a $237.00 target price for the company. Finally, Robert W. Baird set a $255.00 target price on Dover in a research note on Friday, January 30th. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $228.62.

Insider Activity at Dover

In related news, SVP Ivonne M. Cabrera sold 4,000 shares of the business's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total value of $932,920.00. Following the completion of the sale, the senior vice president directly owned 72,188 shares of the company's stock, valued at $16,836,407.24. The trade was a 5.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard J. Tobin sold 76,997 shares of the business's stock in a transaction dated 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 approximately $50,723,713.30. This represents a 26.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 82,497 shares of company stock valued at $19,196,277 over the last three months. 1.10% of the stock is owned by insiders.

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.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.