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

AIA Group Ltd bought a new stake in shares of Dover Co. (NYSE:DOV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,551 shares of the industrial products company’s stock, valued at approximately $1,161,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DOV. Orion Capital Management LLC acquired a new position in Dover during the 3rd quarter valued at approximately $32,000. Headinvest LLC acquired a new position in Dover during the 3rd quarter valued at approximately $32,000. Exchange Traded Concepts LLC acquired a new position in Dover during the 4th quarter valued at approximately $33,000. AdvisorNet Financial Inc increased its stake in Dover by 783.3% during 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 in the last quarter. Finally, Life Planning Partners Inc acquired a new position in Dover during the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Up 0.7 %

DOV stock opened at $169.84 on Friday. The firm has a market cap of $23.33 billion, a PE ratio of 22.59, a P/E/G ratio of 1.75 and a beta of 1.27. 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 firm’s fifty day moving average is $170.42 and its 200 day moving average is $153.04. Dover Co. has a one year low of $127.25 and a one year high of $178.28.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.44 by $0.01. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.16 billion. Dover had a net margin of 12.52% and a return on equity of 25.95%. The firm’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business earned $2.16 earnings per share. On average, research analysts forecast that Dover Co. will post 9.06 EPS for the current year.

Dover Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DOV. Citigroup upped their price target on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Royal Bank of Canada increased their price objective 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. Barclays increased their price objective on shares of Dover from $163.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 2nd. Robert W. Baird increased their price objective on shares of Dover from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Finally, StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.13.

Insider Buying and Selling at Dover

In other Dover news, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction 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 transaction, the director now directly owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 23,909 shares of the company’s stock, valued at $3,897,406.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stephen M. Todd sold 1,500 shares of the firm’s 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 completion of 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. Insiders have sold a total of 25,910 shares of company stock valued at $4,318,059 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

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.