AIA Group Ltd Purchases New Stake in Dover Co. (NYSE:DOV)

AIA Group Ltd purchased a new position in shares of Dover Co. (NYSE:DOV - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 7,551 shares of the industrial products company's stock, valued at approximately $1,161,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DOV. AdvisorNet Financial Inc raised its holdings in shares of Dover by 783.3% in the 4th quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 188 shares during the period. Exchange Traded Concepts LLC bought a new stake in shares of Dover in the 4th quarter valued at about $33,000. Life Planning Partners Inc bought a new stake in shares of Dover in the 4th quarter valued at about $35,000. Orion Capital Management LLC bought a new stake in shares of Dover in the 3rd quarter valued at about $32,000. Finally, Headinvest LLC bought a new stake in shares of Dover in the 3rd quarter valued at about $32,000. 84.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on DOV shares. Citigroup upped their target price on shares of Dover from $180.00 to $205.00 and gave the company a "buy" rating in a report on Monday, April 8th. Seaport Res Ptn raised shares of Dover from a "neutral" rating to a "buy" rating in a report on Monday, February 5th. Barclays increased their price target on shares of Dover from $163.00 to $180.00 and gave the company an "equal weight" rating in a report on Tuesday, April 2nd. Robert W. Baird increased their price target on shares of Dover from $175.00 to $185.00 and gave the company an "outperform" rating in a report on Thursday, March 28th. Finally, StockNews.com cut shares of Dover from a "buy" rating to a "hold" rating in a report on Friday, March 22nd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Dover has a consensus rating of "Moderate Buy" and a consensus price target of $175.13.

Dover Stock Performance

Shares of NYSE:DOV traded up $1.23 on Friday, reaching $169.84. 1,257,049 shares of the company's stock were exchanged, compared to its average volume of 828,256. The company has a fifty day moving average of $170.42 and a 200-day moving average of $153.15. Dover Co. has a twelve month low of $127.25 and a twelve month high of $178.28. The company has a market capitalization of $23.33 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 1.75 and a beta of 1.27. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59.

Dover (NYSE:DOV - Get Free Report) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.44 by $0.01. Dover had a net margin of 12.52% and a return on equity of 25.95%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the business posted $2.16 EPS. The business's revenue was down 1.5% compared to the same quarter last year. On average, research analysts predict that Dover Co. will post 9.06 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $2.04 annualized dividend and a dividend yield of 1.20%. Dover's dividend payout ratio is 27.13%.

Insider Buying and Selling

In related news, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the sale, the director now owns 22,955 shares in the company, valued at approximately $3,929,666.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Brad M. Cerepak sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $176.71, for a total value of $1,060,260.00. Following the completion of the transaction, the chief financial officer now owns 17,909 shares of the company's stock, valued at approximately $3,164,699.39. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $171.19, for a total transaction of $256,785.00. Following the completion of the transaction, the director now directly owns 22,955 shares of the company's stock, valued at approximately $3,929,666.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,910 shares of company stock worth $4,318,059. Corporate insiders own 1.30% of the company's stock.

Dover Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.