Cornerstone Wealth Management LLC increased its stake in shares of Dover Corp (NYSE:DOV) by 38.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,422 shares of the industrial products company’s stock after buying an additional 952 shares during the period. Cornerstone Wealth Management LLC’s holdings in Dover were worth $351,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norinchukin Bank The increased its holdings in Dover by 7.5% during the fourth quarter. Norinchukin Bank The now owns 12,457 shares of the industrial products company’s stock worth $1,258,000 after buying an additional 871 shares during the last quarter. Ontario Teachers Pension Plan Board increased its holdings in Dover by 130.2% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 15,722 shares of the industrial products company’s stock worth $1,588,000 after buying an additional 8,892 shares during the last quarter. American International Group Inc. increased its holdings in Dover by 10.8% during the fourth quarter. American International Group Inc. now owns 61,413 shares of the industrial products company’s stock worth $6,202,000 after buying an additional 5,998 shares during the last quarter. Frontier Investment Mgmt Co. increased its holdings in Dover by 1.5% during the fourth quarter. Frontier Investment Mgmt Co. now owns 131,764 shares of the industrial products company’s stock worth $13,307,000 after buying an additional 1,930 shares during the last quarter. Finally, Taylor Hoffman Wealth Management purchased a new stake in Dover during the fourth quarter worth about $432,000. Institutional investors and hedge funds own 87.22% of the company’s stock.
Dover Corp (NYSE DOV) opened at $102.06 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The firm has a market cap of $15,439.35, a PE ratio of 24.81, a price-to-earnings-growth ratio of 1.31 and a beta of 1.28. Dover Corp has a 1 year low of $75.51 and a 1 year high of $109.06.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be given a $0.47 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.84%. Dover’s dividend payout ratio (DPR) is currently 36.50%.
In other news, insider Stephen Gary Kennon sold 15,702 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $102.01, for a total value of $1,601,761.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is currently owned by company insiders.
A number of analysts recently issued reports on DOV shares. Zacks Investment Research upgraded shares of Dover from a “hold” rating to a “buy” rating and set a $119.00 price objective for the company in a report on Friday, February 2nd. BMO Capital Markets restated a “buy” rating on shares of Dover in a report on Friday, January 26th. Royal Bank of Canada restated a “hold” rating and set a $105.00 price objective on shares of Dover in a report on Wednesday, January 17th. Stifel Nicolaus restated a “hold” rating and set a $112.00 price objective (up previously from $100.00) on shares of Dover in a report on Tuesday, January 16th. Finally, ValuEngine lowered shares of Dover from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Dover presently has a consensus rating of “Hold” and an average target price of $107.83.
Dover Corporation is a diversified global manufacturer delivering equipment and components, specialty systems, consumable supplies, software and digital solutions and support services. The Company’s segments include Energy, Engineered Systems, Fluids and Refrigeration & Food Equipment. The Company’s Energy segment is a provider of solutions and services for production and processing of fuels around the world.
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