OFI Invest Asset Management Buys New Holdings in Dover Corporation $DOV

Key Points

• OFI Invest Asset Management bought a new 52,218‑share stake in Dover in Q4 worth about $10.2 million, joining several other institutions that increased positions and leaving institutional ownership around 84.46%.
• Company insiders have sold a notable amount recently — 82,497 shares worth ~$19.2 million over the last 90 days, including CEO Richard Tobin’s sale of 76,997 shares (~$17.9M), trimming his stake by 26.1%.
• Wall Street sentiment is generally positive with a consensus rating of “Moderate Buy” and a $226.54 average price target; Dover recently beat quarterly EPS estimates ($2.51 vs. $2.48) and pays a $0.52 quarterly dividend (≈1.0% yield).

OFI Invest Asset Management bought a new stake in Dover Corporation (NYSE:DOV - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 52,218 shares of the industrial products company's stock, valued at approximately $10,195,000.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DOV shares. Wall Street Zen upgraded Dover from a "hold" rating to a "buy" rating in a research note on Saturday, February 28th. JPMorgan Chase & Co. increased their price objective on Dover from $230.00 to $240.00 and gave the stock an "overweight" rating in a research note on Friday, January 30th. UBS Group set a $256.00 price objective on Dover and gave the stock a "buy" rating in a research note on Sunday, January 4th. Royal Bank Of Canada increased their price objective on Dover from $199.00 to $209.00 and gave the stock a "sector perform" rating in a research note on Friday, January 30th. Finally, Barclays set a $206.00 price objective on Dover in a research note on Monday, February 2nd. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $226.54.

Insider Activity

In related news, SVP Ivonne M. Cabrera sold 4,000 shares of the firm'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 transaction, the senior vice president owned 72,188 shares in the company, valued at $16,836,407.24. This trade represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard J. Tobin sold 76,997 shares of the firm'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 transaction, the chief executive officer owned 217,979 shares in the company, valued at approximately $50,723,713.30. This represents a 26.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 82,497 shares of company stock worth $19,196,277. 1.30% of the stock is owned by corporate insiders.

Dover Stock Performance

Shares of NYSE:DOV opened at $218.08 on Friday. Dover Corporation has a twelve month low of $154.38 and a twelve month high of $237.54. The firm has a market cap of $29.40 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 1.67 and a beta of 1.25. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79. The business has a fifty day moving average of $217.16 and a 200-day moving average of $196.91.

Dover (NYSE:DOV - Get Free Report) last announced its earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the company posted $2.20 earnings per share. The firm's quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts predict that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were paid a $0.52 dividend. The ex-dividend date was Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. Dover's dividend payout ratio (DPR) is 26.20%.

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.

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