Dover Co. (NYSE:DOV) Shares Purchased by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. lifted its holdings in Dover Co. (NYSE:DOV) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,885 shares of the industrial products company’s stock after acquiring an additional 155 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Dover were worth $444,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wynn Capital LLC acquired a new stake in shares of Dover in the fourth quarter worth $291,000. Wolverine Asset Management LLC acquired a new stake in Dover during the fourth quarter valued at $1,077,000. GAMMA Investing LLC acquired a new stake in Dover during the fourth quarter valued at $66,000. RWA Wealth Partners LLC acquired a new stake in Dover during the fourth quarter valued at $659,000. Finally, Stock Yards Bank & Trust Co. grew its position in Dover by 7.1% during the fourth quarter. Stock Yards Bank & Trust Co. now owns 26,377 shares of the industrial products company’s stock valued at $4,057,000 after buying an additional 1,741 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Performance

NYSE:DOV opened at $180.17 on Monday. The company’s 50-day moving average price is $171.75 and its 200-day moving average price is $154.47. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59. The company has a market cap of $24.75 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.87 and a beta of 1.27. Dover Co. has a twelve month low of $127.25 and a twelve month high of $181.49.

Dover (NYSE:DOV) 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 firm had revenue of $2.09 billion for 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 25.41%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the firm posted $1.94 earnings per share. On average, sell-side analysts forecast that Dover Co. will post 9.1 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Wednesday, February 28th. Dover’s dividend payout ratio is currently 19.60%.

Insider Transactions at Dover

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Royal Bank of Canada raised 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. Oppenheimer raised their price target on shares of Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research report on Friday. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a report on Friday. Wells Fargo & Company increased their price objective on shares of Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Barclays increased their price objective on shares of Dover from $180.00 to $186.00 and gave the company an “equal weight” rating in a report on Friday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and a consensus target price of $185.75.

About Dover

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.