Swiss Life Asset Management Ltd Acquires 35,745 Shares of Dover Corporation $DOV

Key Points

• Swiss Life Asset Management boosted its stake in Dover by 162.9%, acquiring 35,745 shares to own 57,682 shares worth about $9.62 million after the third quarter.
• Company insiders sold a significant amount this quarter — CEO Richard J. Tobin sold 76,997 shares for roughly $17.9 million and insiders sold a total of 82,497 shares (~$19.2 million), leaving insiders with 1.30% ownership.
• Wall Street sentiment is generally positive with nine Buy and four Hold ratings (average price target $225.67, consensus "Moderate Buy"); Dover recently beat EPS estimates and pays a $0.52 quarterly dividend ($2.08 annual, ~1.0% yield).

Swiss Life Asset Management Ltd increased its holdings in Dover Corporation (NYSE:DOV - Free Report) by 162.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 57,682 shares of the industrial products company's stock after purchasing an additional 35,745 shares during the quarter. Swiss Life Asset Management Ltd's holdings in Dover were worth $9,623,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in DOV. Financial Life Planners purchased a new position in shares of Dover in the third quarter worth about $25,000. Vermillion & White Wealth Management Group LLC boosted its holdings in Dover by 122.4% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 93 shares during the period. Caldwell Trust Co purchased a new stake in Dover during the 2nd quarter valued at about $31,000. Westside Investment Management Inc. grew its position in Dover by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company's stock worth $38,000 after acquiring an additional 114 shares during the last quarter. Finally, Davis Capital Management purchased a new position in Dover in the 3rd quarter worth approximately $44,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Dover

In related news, VP Girish Juneja sold 1,500 shares of Dover stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total transaction of $346,155.00. Following the sale, the vice president directly owned 8,422 shares in the company, valued at $1,943,544.94. The trade was a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard J. Tobin sold 76,997 shares of the company's stock in a transaction on Thursday, February 19th. The stock was 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 in the company, valued at approximately $50,723,713.30. The trade was a 26.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 82,497 shares of company stock valued at $19,196,277. Corporate insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DOV shares. Citigroup reissued a "buy" rating on shares of Dover in a research note on Monday, January 12th. Oppenheimer lifted their target price on shares of Dover from $228.00 to $232.00 and gave the stock an "outperform" rating in a research note on Monday, January 26th. Wells Fargo & Company raised shares of Dover from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $210.00 to $230.00 in a research report on Tuesday. UBS Group set a $256.00 price target on shares of Dover and gave the stock a "buy" rating in a report on Sunday, January 4th. Finally, Wall Street Zen upgraded shares of Dover from a "hold" rating to a "buy" rating in a research report on Saturday, February 28th. Nine research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $225.67.

Dover Stock Down 1.0%

Shares of NYSE DOV opened at $209.41 on Friday. The firm has a fifty day simple moving average of $216.02 and a two-hundred day simple moving average of $193.49. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $237.54. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $28.24 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 1.62 and a beta of 1.27.

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 net margin of 13.52% and a return on equity of 17.87%. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the firm posted $2.20 EPS. The company's revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a dividend of $0.52 per share. 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 is 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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