Dover Co. (NYSE:DOV) Shares Purchased by DNB Asset Management AS

DNB Asset Management AS lifted its holdings in Dover Co. (NYSE:DOVGet Rating) by 14.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,628 shares of the industrial products company’s stock after purchasing an additional 4,370 shares during the quarter. DNB Asset Management AS’s holdings in Dover were worth $5,433,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of DOV. Norges Bank acquired a new stake in shares of Dover in the 4th quarter worth $249,199,000. Millennium Management LLC boosted its position in shares of Dover by 277.1% in the 4th quarter. Millennium Management LLC now owns 803,269 shares of the industrial products company’s stock worth $145,874,000 after purchasing an additional 590,242 shares in the last quarter. Castleview Partners LLC acquired a new stake in shares of Dover in the 4th quarter worth $2,881,000. KBC Group NV boosted its position in shares of Dover by 80.8% in the 4th quarter. KBC Group NV now owns 640,583 shares of the industrial products company’s stock worth $116,330,000 after purchasing an additional 286,301 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of Dover by 2.1% in the 4th quarter. BlackRock Inc. now owns 10,713,313 shares of the industrial products company’s stock worth $1,945,538,000 after purchasing an additional 220,569 shares in the last quarter. 84.14% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP David J. Malinas acquired 350 shares of the business’s stock in a transaction on Monday, April 25th. The stock was bought at an average cost of $139.44 per share, for a total transaction of $48,804.00. Following the purchase, the senior vice president now owns 2,744 shares in the company, valued at $382,623.36. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by insiders.

Shares of Dover stock opened at $119.42 on Thursday. The company has a quick ratio of 0.85, a current ratio of 1.44 and a debt-to-equity ratio of 0.69. Dover Co. has a twelve month low of $117.21 and a twelve month high of $184.04. The business has a 50-day moving average price of $133.53 and a 200 day moving average price of $154.13. The firm has a market cap of $17.22 billion, a PE ratio of 15.55, a P/E/G ratio of 0.98 and a beta of 1.42.

Dover (NYSE:DOVGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The industrial products company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.06. Dover had a return on equity of 27.82% and a net margin of 13.81%. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business earned $1.81 EPS. Dover’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts expect that Dover Co. will post 8.55 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, May 27th. This represents a $2.00 annualized dividend and a dividend yield of 1.67%. Dover’s dividend payout ratio is presently 26.04%.

DOV has been the subject of a number of research reports. Royal Bank of Canada lowered their price target on Dover from $170.00 to $162.00 and set a “sector perform” rating for the company in a research report on Friday, April 22nd. Wells Fargo & Company lowered their price target on Dover from $161.00 to $159.00 and set an “equal weight” rating for the company in a research report on Friday, April 22nd. Robert W. Baird lowered their price target on Dover from $194.00 to $169.00 in a research report on Thursday, April 21st. StockNews.com cut Dover from a “buy” rating to a “hold” rating in a research report on Thursday, June 9th. Finally, Barclays lowered their price target on Dover from $155.00 to $140.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $174.00.

Dover Profile (Get Rating)

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

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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