Mitsubishi UFJ Asset Management Co. Ltd. Purchases 4,703 Shares of Dover Corporation $DOV

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Dover Corporation (NYSE:DOV) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 300,143 shares of the industrial products company’s stock after purchasing an additional 4,703 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.22% of Dover worth $50,073,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. First Trust Advisors LP lifted its holdings in shares of Dover by 717.4% during the 2nd quarter. First Trust Advisors LP now owns 1,716,256 shares of the industrial products company’s stock worth $314,470,000 after acquiring an additional 1,506,288 shares during the period. Norges Bank acquired a new position in Dover in the second quarter worth about $274,135,000. AQR Capital Management LLC lifted its stake in Dover by 912.9% during the second quarter. AQR Capital Management LLC now owns 789,409 shares of the industrial products company’s stock worth $144,572,000 after purchasing an additional 711,471 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Dover by 133.6% during the third quarter. Assenagon Asset Management S.A. now owns 656,349 shares of the industrial products company’s stock valued at $109,499,000 after purchasing an additional 375,333 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Dover by 46.8% in the 2nd quarter. Hsbc Holdings PLC now owns 901,460 shares of the industrial products company’s stock valued at $165,158,000 after purchasing an additional 287,362 shares during the period. Institutional investors own 84.46% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Richard J. Tobin sold 76,997 shares of Dover stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the completion of the sale, the chief executive officer owned 217,979 shares in the company, valued at $50,723,713.30. The trade was a 26.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Ivonne M. Cabrera sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total transaction of $932,920.00. Following the sale, the senior vice president directly owned 72,188 shares of the company’s stock, valued at approximately $16,836,407.24. This trade represents a 5.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 85,127 shares of company stock valued at $19,698,081. 1.30% of the stock is currently owned by insiders.

Dover Price Performance

DOV opened at $225.32 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28. The stock has a market capitalization of $30.39 billion, a P/E ratio of 28.38, a price-to-earnings-growth ratio of 1.73 and a beta of 1.29. The company’s 50 day simple moving average is $212.11 and its 200-day simple moving average is $190.18. Dover Corporation has a one year low of $143.04 and a one year high of $237.54.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.03. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.09 billion. Dover had a return on equity of 17.87% and a net margin of 13.52%.The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.20 EPS. Sell-side analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, February 27th. Dover’s dividend payout ratio (DPR) is presently 26.20%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wall Street Zen upgraded Dover from a “hold” rating to a “buy” rating in a research report on Saturday. JPMorgan Chase & Co. lifted their price objective on Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Royal Bank Of Canada boosted their target price on shares of Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Wells Fargo & Company increased their target price on shares of Dover from $205.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Finally, BNP Paribas Exane started coverage on shares of Dover in a research report on Thursday, December 4th. They issued a “neutral” rating and a $195.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $224.00.

About Dover

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.