Resona Asset Management Co. Ltd. Sells 2,713 Shares of Dover Corporation $DOV

Resona Asset Management Co. Ltd. reduced its holdings in shares of Dover Corporation (NYSE:DOV) by 4.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 56,152 shares of the industrial products company’s stock after selling 2,713 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Dover were worth $9,364,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of Dover by 62.1% in the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock worth $552,000 after acquiring an additional 1,128 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Dover by 4.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company’s stock worth $2,526,000 after purchasing an additional 676 shares in the last quarter. Empowered Funds LLC lifted its stake in Dover by 11.8% in the 1st quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company’s stock valued at $2,636,000 after purchasing an additional 1,580 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Dover in the second quarter valued at approximately $488,000. Finally, Farther Finance Advisors LLC boosted its position in Dover by 38.1% in the second quarter. Farther Finance Advisors LLC now owns 827 shares of the industrial products company’s stock valued at $152,000 after buying an additional 228 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on DOV shares. JPMorgan Chase & Co. upped their price target on shares of Dover from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. UBS Group set a $256.00 price objective on Dover and gave the stock a “buy” rating in a research report on Sunday, January 4th. Citigroup reiterated a “buy” rating on shares of Dover in a research report on Monday, January 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of Dover in a research note on Monday, December 29th. Finally, Robert W. Baird set a $235.00 price objective on Dover in a research note on Friday, October 24th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.45.

Dover Stock Performance

DOV stock opened at $207.73 on Tuesday. The stock has a 50-day moving average price of $196.23 and a 200-day moving average price of $183.48. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. The firm has a market cap of $28.49 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 1.44 and a beta of 1.31.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $2.08 annualized dividend and a yield of 1.0%. Dover’s payout ratio is 12.79%.

Insider Buying and Selling

In related news, CFO Christopher B. Woenker sold 1,627 shares of the business’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $186.04, for a total transaction of $302,687.08. Following the transaction, the chief financial officer owned 2,553 shares in the company, valued at $474,960.12. The trade was a 38.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $190.80, for a total transaction of $501,804.00. Following the completion of the sale, the senior vice president owned 72,968 shares of the company’s stock, valued at $13,922,294.40. The trade was a 3.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.20% of the stock is currently owned by corporate insiders.

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.