MeadowBrook Investment Advisors LLC Acquires New Position in Dover Co. (NYSE:DOV)

MeadowBrook Investment Advisors LLC purchased a new position in Dover Co. (NYSE:DOV - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,857 shares of the industrial products company's stock, valued at approximately $1,362,000. Dover accounts for about 1.3% of MeadowBrook Investment Advisors LLC's investment portfolio, making the stock its 21st biggest position.

Other hedge funds also recently modified their holdings of the company. FMR LLC grew its stake in Dover by 10.5% in the 3rd quarter. FMR LLC now owns 2,390,670 shares of the industrial products company's stock valued at $333,522,000 after buying an additional 226,646 shares in the last quarter. Northern Trust Corp grew its position in shares of Dover by 5.5% during the 3rd quarter. Northern Trust Corp now owns 1,724,613 shares of the industrial products company's stock valued at $240,601,000 after purchasing an additional 89,774 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of Dover by 160.2% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company's stock valued at $199,319,000 after purchasing an additional 879,533 shares in the last quarter. Invesco Ltd. grew its position in shares of Dover by 14.9% during the 3rd quarter. Invesco Ltd. now owns 1,025,505 shares of the industrial products company's stock valued at $143,068,000 after purchasing an additional 133,241 shares in the last quarter. Finally, Corient Private Wealth LLC grew its position in shares of Dover by 3.6% during the 3rd quarter. Corient Private Wealth LLC now owns 992,449 shares of the industrial products company's stock valued at $138,457,000 after purchasing an additional 34,207 shares in the last quarter. Institutional investors own 84.46% of the company's stock.

Insider Activity

In other news, CFO Brad M. Cerepak sold 18,410 shares of the company's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the completion of the transaction, the chief financial officer now directly owns 23,909 shares of the company's stock, valued at $3,897,406.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other 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 $3,929,666.45. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brad M. Cerepak sold 18,410 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the sale, the chief financial officer now owns 23,909 shares in the company, valued at approximately $3,897,406.09. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,910 shares of company stock valued at $4,318,059. Insiders own 1.30% of the company's stock.

Dover Trading Up 0.1 %

Dover stock traded up $0.10 during mid-day trading on Tuesday, hitting $181.83. The company's stock had a trading volume of 647,959 shares, compared to its average volume of 989,113. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.31 and a quick ratio of 0.89. The stock has a market cap of $24.99 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 1.84 and a beta of 1.25. The business has a 50 day moving average price of $173.78 and a 200-day moving average price of $156.19. Dover Co. has a 12 month low of $127.25 and a 12 month high of $183.43.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.07. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.03 billion. Dover had a net margin of 17.28% and a return on equity of 25.04%. The firm's revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.94 earnings per share. As a group, analysts forecast that Dover Co. will post 9.1 EPS for the current year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Friday, May 31st. Dover's dividend payout ratio (DPR) is 19.60%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Citigroup boosted their price target on shares of Dover from $180.00 to $205.00 and gave the company a "buy" rating in a research report on Monday, April 8th. Royal Bank of Canada boosted their price target on shares of Dover from $146.00 to $153.00 and gave the company a "sector perform" rating in a research report on Friday, February 2nd. Mizuho boosted their price target on shares of Dover from $180.00 to $185.00 and gave the company a "buy" rating in a research report on Friday, April 26th. Seaport Res Ptn upgraded shares of Dover from a "neutral" rating to a "buy" rating in a research report on Monday, February 5th. Finally, Robert W. Baird upped their target price on shares of Dover from $185.00 to $208.00 and gave the stock an "outperform" rating in a research report on Friday, April 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $185.75.

Dover Company 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.