Tocqueville Asset Management L.P. increased its stake in shares of Dover Corp (NYSE:DOV) by 12.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,581 shares of the industrial products company’s stock after purchasing an additional 2,019 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Dover were worth $2,142,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of DOV. Nuveen Asset Management LLC grew its stake in Dover by 50,089.3% in the second quarter. Nuveen Asset Management LLC now owns 1,981,474 shares of the industrial products company’s stock valued at $198,544,000 after purchasing an additional 1,977,526 shares during the last quarter. BlackRock Inc. lifted its position in shares of Dover by 3.1% during the second quarter. BlackRock Inc. now owns 12,354,483 shares of the industrial products company’s stock valued at $1,237,921,000 after buying an additional 371,171 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Dover by 1.5% during the second quarter. Vanguard Group Inc. now owns 17,343,884 shares of the industrial products company’s stock valued at $1,737,857,000 after buying an additional 254,585 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in shares of Dover by 17.3% in the 3rd quarter. Wedge Capital Management L L P NC now owns 1,090,645 shares of the industrial products company’s stock valued at $108,585,000 after buying an additional 160,869 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Dover by 42.2% in the 3rd quarter. First Trust Advisors LP now owns 491,829 shares of the industrial products company’s stock valued at $48,966,000 after buying an additional 146,065 shares in the last quarter. Hedge funds and other institutional investors own 86.89% of the company’s stock.
Shares of DOV stock opened at $119.60 on Friday. Dover Corp has a fifty-two week low of $77.41 and a fifty-two week high of $119.62. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.97 and a current ratio of 1.42. The firm has a market capitalization of $17.01 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 1.62 and a beta of 1.50. The stock’s 50-day simple moving average is $114.44 and its 200-day simple moving average is $102.89.
Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, October 17th. The industrial products company reported $1.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.09. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.81 billion. Dover had a net margin of 9.08% and a return on equity of 29.62%. Dover’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $1.36 EPS. As a group, equities analysts forecast that Dover Corp will post 5.85 earnings per share for the current year.
In other Dover news, SVP Ivonne M. Cabrera sold 4,055 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $112.48, for a total value of $456,106.40. Also, Director Kristiane C. Graham sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $109.57, for a total transaction of $109,570.00. Following the completion of the transaction, the director now directly owns 356,704 shares of the company’s stock, valued at approximately $39,084,057.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,210 shares of company stock worth $2,712,287. 1.70% of the stock is owned by insiders.
Several research firms recently commented on DOV. Citigroup boosted their price objective on shares of Dover from $115.00 to $132.00 and gave the stock a “buy” rating in a research note on Monday. Zacks Investment Research upgraded shares of Dover from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Tuesday, October 22nd. Robert W. Baird lifted their price target on shares of Dover from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. JPMorgan Chase & Co. upped their price target on Dover from $82.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Royal Bank of Canada set a $96.00 price target on Dover and gave the stock a “hold” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Dover has an average rating of “Hold” and an average target price of $109.11.
Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual and power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.
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