Machina Capital S.A.S. Boosts Stock Position in Dover Co. (NYSE:DOV)

Machina Capital S.A.S. lifted its stake in Dover Co. (NYSE:DOV) by 27.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,557 shares of the industrial products company’s stock after purchasing an additional 757 shares during the quarter. Machina Capital S.A.S.’s holdings in Dover were worth $547,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in DOV. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Dover in the 4th quarter worth $1,362,000. Spire Wealth Management raised its stake in Dover by 37.5% during the fourth quarter. Spire Wealth Management now owns 39,429 shares of the industrial products company’s stock worth $5,839,000 after purchasing an additional 10,756 shares during the period. Connecticut Wealth Management LLC boosted its holdings in Dover by 7.3% in the 4th quarter. Connecticut Wealth Management LLC now owns 2,539 shares of the industrial products company’s stock valued at $391,000 after purchasing an additional 173 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Dover by 8.7% in the 4th quarter. National Bank of Canada FI now owns 37,780 shares of the industrial products company’s stock valued at $5,724,000 after buying an additional 3,019 shares during the period. Finally, Legacy Financial Advisors Inc. increased its holdings in shares of Dover by 1.7% during the 4th quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock worth $577,000 after buying an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Seaport Res Ptn upgraded Dover from a “neutral” rating to a “buy” rating in a research report on Monday, February 5th. Citigroup increased their price target on Dover from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Mizuho boosted their price objective on shares of Dover from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, April 26th. StockNews.com raised shares of Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Finally, Wells Fargo & Company boosted their price target on shares of Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $185.75.

Insider Transactions at Dover

In related news, CFO Brad M. Cerepak sold 18,410 shares of Dover stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 23,909 shares in the company, valued at $3,897,406.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Brad M. Cerepak sold 6,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $176.71, for a total transaction of $1,060,260.00. Following the completion of the transaction, the chief financial officer now directly owns 17,909 shares of the company’s stock, valued at approximately $3,164,699.39. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 18,410 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,910 shares of company stock valued at $4,318,059. 1.30% of the stock is currently owned by corporate insiders.

Dover Stock Up 1.5 %

Shares of DOV traded up $2.74 during mid-day trading on Monday, hitting $181.73. 640,126 shares of the company’s stock were exchanged, compared to its average volume of 992,995. The company has a market cap of $24.98 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 1.84 and a beta of 1.25. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week high of $182.33. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.89 and a current ratio of 1.31. The stock’s 50-day moving average is $173.44 and its 200-day moving average is $155.86.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.07. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.03 billion. Dover had a return on equity of 25.04% and a net margin of 17.28%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.94 earnings per share. On average, sell-side analysts anticipate that Dover Co. will post 9.1 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Friday, May 31st. Dover’s payout ratio is presently 19.60%.

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.