Franklin Resources Inc. Purchases 193,878 Shares of Dover Corporation $DOV

Franklin Resources Inc. raised its position in shares of Dover Corporation (NYSE:DOV) by 13.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,664,306 shares of the industrial products company’s stock after buying an additional 193,878 shares during the quarter. Franklin Resources Inc.’s holdings in Dover were worth $277,656,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its position in Dover by 62.1% during the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock valued at $552,000 after acquiring an additional 1,128 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Dover by 4.9% during the first 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 increased its position in shares of Dover by 11.8% during the first quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company’s stock worth $2,636,000 after purchasing an additional 1,580 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Dover during the 2nd quarter valued at $488,000. Finally, Penserra Capital Management LLC boosted its position in shares of Dover by 12.4% in the 2nd quarter. Penserra Capital Management LLC now owns 751 shares of the industrial products company’s stock worth $137,000 after purchasing an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Robert W. Baird set a $255.00 target price on Dover in a research report on Friday, January 30th. Citigroup reissued a “buy” rating on shares of Dover in a report on Monday, January 12th. The Goldman Sachs Group restated a “buy” rating and set a $224.00 price target on shares of Dover in a research note on Saturday, January 31st. Barclays set a $206.00 price objective on shares of Dover in a research report on Monday, February 2nd. Finally, UBS Group set a $256.00 target price on shares of Dover and gave the stock a “buy” rating in a research note on Sunday, January 4th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

Insider Activity at Dover

In other Dover news, VP Girish Juneja sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total value of $346,155.00. Following the completion of the transaction, the vice president directly owned 8,422 shares of the company’s stock, valued at approximately $1,943,544.94. The trade was a 15.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Ivonne M. Cabrera sold 4,000 shares of the company’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 value of $932,920.00. Following the completion of the sale, the senior vice president owned 72,188 shares in the company, valued at approximately $16,836,407.24. This represents a 5.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 82,497 shares of company stock worth $19,196,277. 1.30% of the stock is owned by corporate insiders.

Dover Trading Down 3.2%

Shares of Dover stock opened at $203.69 on Friday. The stock has a market cap of $27.47 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.61 and a beta of 1.27. The firm has a fifty day moving average price of $214.95 and a 200 day moving average price of $192.29. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $237.54. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.03. The company 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 firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the firm earned $2.20 EPS. Equities research analysts predict that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, February 27th. Dover’s dividend payout ratio (DPR) is currently 26.20%.

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.