AIA Group Ltd Invests $1.16 Million in Dover Co. (NYSE:DOV)

AIA Group Ltd purchased a new stake in Dover Co. (NYSE:DOV) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 7,551 shares of the industrial products company’s stock, valued at approximately $1,161,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Daiwa Securities Group Inc. raised its position in Dover by 5.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 18,366 shares of the industrial products company’s stock valued at $2,825,000 after purchasing an additional 942 shares during the last quarter. Tyche Wealth Partners LLC acquired a new position in Dover in the 4th quarter valued at $372,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Dover by 18.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,149 shares of the industrial products company’s stock valued at $10,021,000 after buying an additional 10,294 shares during the period. SVB Wealth LLC increased its stake in Dover by 7.8% in the 4th quarter. SVB Wealth LLC now owns 17,786 shares of the industrial products company’s stock valued at $2,736,000 after buying an additional 1,287 shares during the period. Finally, Cornercap Investment Counsel Inc. increased its stake in Dover by 5.1% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 15,364 shares of the industrial products company’s stock valued at $2,363,000 after buying an additional 750 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Dover

In other Dover news, CFO Brad M. Cerepak sold 6,000 shares of the company’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 in the company, valued at approximately $3,164,699.39. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Stephen M. Todd sold 1,500 shares of the stock in a transaction dated 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 in the company, valued at approximately $3,929,666.45. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 6,000 shares of the 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 transaction, the chief financial officer now owns 17,909 shares in the company, valued at $3,164,699.39. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,910 shares of company stock worth $4,318,059. Corporate insiders own 1.30% of the company’s stock.

Dover Price Performance

Shares of NYSE DOV opened at $169.84 on Friday. The stock has a market cap of $23.33 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 1.75 and a beta of 1.27. Dover Co. has a 52 week low of $127.25 and a 52 week high of $178.28. The company’s 50-day moving average price is $170.42 and its 200 day moving average price is $153.04. The company has a current ratio of 1.40, a quick ratio of 0.90 and a debt-to-equity ratio of 0.59.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.01. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the company earned $2.16 EPS. As a group, research analysts forecast that Dover Co. will post 9.06 earnings per share for the current fiscal year.

Dover Announces Dividend

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

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.