Tobam Has $68,000 Stake in Dover Co. (NYSE:DOV)

Tobam increased its stake in shares of Dover Co. (NYSE:DOV) by 33.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 354 shares of the industrial products company’s stock after buying an additional 89 shares during the quarter. Tobam’s holdings in Dover were worth $68,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in DOV. BNP Paribas Financial Markets grew its holdings in shares of Dover by 27.4% during the 1st quarter. BNP Paribas Financial Markets now owns 166,211 shares of the industrial products company’s stock worth $29,451,000 after purchasing an additional 35,750 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Dover by 14.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 202,659 shares of the industrial products company’s stock valued at $35,909,000 after buying an additional 25,562 shares during the period. SG Americas Securities LLC raised its position in shares of Dover by 75.1% in the 1st quarter. SG Americas Securities LLC now owns 19,972 shares of the industrial products company’s stock valued at $3,539,000 after buying an additional 8,563 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Dover by 975.5% during the 1st quarter. Cetera Investment Advisers now owns 24,886 shares of the industrial products company’s stock worth $4,410,000 after acquiring an additional 22,572 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Dover by 56.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 13,175 shares of the industrial products company’s stock worth $2,334,000 after acquiring an additional 4,760 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DOV shares. Robert W. Baird restated an “outperform” rating and set a $208.00 price objective on shares of Dover in a research report on Monday, July 22nd. Mizuho upped their price objective on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Wolfe Research upgraded Dover to a “hold” rating in a research report on Friday, September 20th. Wells Fargo & Company increased their target price on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada lifted their price target on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $194.00.

Dover Stock Up 2.2 %

NYSE:DOV opened at $190.75 on Friday. Dover Co. has a one year low of $127.25 and a one year high of $194.75. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. The company has a market cap of $26.21 billion, a PE ratio of 18.32, a P/E/G ratio of 2.20 and a beta of 1.22. The firm’s 50 day simple moving average is $183.69 and its 200 day simple moving average is $181.08.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. Dover’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.05 earnings per share. On average, research analysts anticipate that Dover Co. will post 9.18 earnings per share for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.515 dividend. This is a boost from Dover’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.08%. Dover’s dividend payout ratio is presently 19.79%.

Insider Transactions at Dover

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the sale, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the sale, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the completion of the sale, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,383 shares of company stock worth $8,169,883 over the last ninety days. 1.30% of the stock is owned by insiders.

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.