abrdn plc Purchases 25,464 Shares of Dover Co. (NYSE:DOV)

abrdn plc increased its stake in Dover Co. (NYSE:DOV) by 65.4% during the 4th quarter, HoldingsChannel reports. The firm owned 64,405 shares of the industrial products company’s stock after buying an additional 25,464 shares during the period. abrdn plc’s holdings in Dover were worth $9,906,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DOV. CWM LLC boosted its holdings in Dover by 14.5% in the third quarter. CWM LLC now owns 2,089 shares of the industrial products company’s stock worth $291,000 after purchasing an additional 264 shares during the last quarter. CX Institutional boosted its stake in shares of Dover by 5.4% during the 3rd quarter. CX Institutional now owns 4,861 shares of the industrial products company’s stock worth $678,000 after acquiring an additional 251 shares during the last quarter. Czech National Bank boosted its stake in shares of Dover by 47.7% during the 3rd quarter. Czech National Bank now owns 24,447 shares of the industrial products company’s stock worth $3,411,000 after acquiring an additional 7,892 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Dover by 3.4% during the 3rd quarter. Handelsbanken Fonder AB now owns 82,371 shares of the industrial products company’s stock worth $11,492,000 after acquiring an additional 2,706 shares during the last quarter. Finally, Connecticut Wealth Management LLC purchased a new position in shares of Dover during the 3rd quarter worth $330,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $163.01, for a total value of $3,001,014.10. Following the sale, the chief financial officer now directly owns 23,909 shares in the company, valued at approximately $3,897,406.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Brad M. Cerepak sold 6,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 17,909 shares in the company, valued at approximately $3,164,699.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $163.01, for a total transaction of $3,001,014.10. Following the completion of the sale, the chief financial officer now owns 23,909 shares in the company, valued at $3,897,406.09. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,910 shares of company stock worth $4,318,059. Insiders own 1.30% of the company’s stock.

Dover Stock Up 0.6 %

DOV opened at $180.17 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40. The stock has a market cap of $24.75 billion, a price-to-earnings ratio of 23.96, a price-to-earnings-growth ratio of 1.78 and a beta of 1.27. The firm’s fifty day moving average is $171.75 and its 200 day moving average is $154.29. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week high of $181.49.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.07. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.03 billion. Dover had a net margin of 12.52% and a return on equity of 25.95%. Dover’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.94 EPS. On average, sell-side analysts forecast that Dover Co. will post 9.07 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.51 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $2.04 dividend on an annualized basis and a yield of 1.13%. Dover’s dividend payout ratio is currently 27.13%.

Wall Street Analysts Forecast Growth

DOV has been the topic of several analyst reports. Royal Bank of Canada lifted their price target on shares of Dover from $146.00 to $153.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Friday. Robert W. Baird lifted their price target on shares of Dover from $185.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays lifted their price target on shares of Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Mizuho lifted their target price on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.