Willis Johnson & Associates Inc. Invests $1.06 Million in Dover Corporation $DOV

Key Points

• Willis Johnson & Associates established a new position in Dover in Q4, buying 5,438 shares worth about $1.06 million.
• Analysts are broadly positive—Dover has a consensus rating of "Moderate Buy" with a $226.54 average target (nine Buys vs. five Holds) and several firms raising price targets this year.
• Dover beat quarterly estimates (EPS $2.51 vs. $2.48; revenue $2.10B, +8.8% y/y), pays a $0.52 quarterly dividend (≈1.0% yield), but insiders sold roughly 82,497 shares (~$19.2M) over the last three months.

Willis Johnson & Associates Inc. purchased a new position in Dover Corporation (NYSE:DOV - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,438 shares of the industrial products company's stock, valued at approximately $1,062,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Machina Capital S.A.S. grew its stake in Dover by 91.8% in the 3rd quarter. Machina Capital S.A.S. now owns 16,834 shares of the industrial products company's stock valued at $2,808,000 after acquiring an additional 8,055 shares during the last quarter. Generali Asset Management SPA SGR raised its position 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 during the last quarter. SG Americas Securities LLC lifted its holdings in shares of 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 in the last quarter. Federated Hermes Inc. grew its position in shares of Dover by 17.3% in the third quarter. Federated Hermes Inc. now owns 43,300 shares of the industrial products company's stock valued at $7,224,000 after purchasing an additional 6,399 shares during the last quarter. Finally, Cerity Partners LLC increased its stake in shares of Dover by 34.4% during the 3rd quarter. Cerity Partners LLC now owns 91,061 shares of the industrial products company's stock worth $15,192,000 after purchasing an additional 23,298 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DOV has been the topic of a number of recent research reports. Morgan Stanley set a $210.00 target price on Dover in a research note on Wednesday, February 4th. Wall Street Zen raised Dover from a "hold" rating to a "buy" rating in a research report on Saturday, February 28th. Citigroup restated a "buy" rating on shares of Dover in a research report on Monday, January 12th. Robert W. Baird set a $255.00 price objective on Dover in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Dover from $230.00 to $240.00 and gave the stock an "overweight" rating in a research report on Friday, January 30th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $226.54.

Dover Price Performance

DOV stock opened at $218.08 on Friday. The stock has a market capitalization of $29.40 billion, a price-to-earnings ratio of 27.47, a price-to-earnings-growth ratio of 1.67 and a beta of 1.25. The company has a quick ratio of 1.28, a current ratio of 1.79 and a debt-to-equity ratio of 0.35. Dover Corporation has a 52-week low of $154.38 and a 52-week high of $237.54. The stock's fifty day simple moving average is $217.16 and its 200-day simple moving average is $196.91.

Dover (NYSE:DOV - Get Free Report) last released its earnings results on Thursday, January 29th. The industrial products company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.48 by $0.03. Dover had a return on equity of 17.87% and a net margin of 13.52%.The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the prior year, the firm posted $2.20 earnings per share. The business's quarterly revenue was up 8.8% compared to the same quarter last year. Equities research analysts expect that Dover Corporation will post 9.45 EPS for the current year.

Dover Announces Dividend

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

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 transaction, the vice president directly owned 8,422 shares of the company's stock, valued at approximately $1,943,544.94. This trade represents a 15.12% decrease in their position. The sale 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 firm's stock in a transaction dated 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 transaction, the chief executive officer owned 217,979 shares in the company, valued at approximately $50,723,713.30. This trade represents a 26.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 82,497 shares of company stock worth $19,196,277. 1.30% of the stock is owned by company insiders.

Dover 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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