MetLife Investment Advisors LLC Purchases New Position in Dover Corp (DOV)

MetLife Investment Advisors LLC purchased a new position in Dover Corp (NYSE:DOV) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 48,203 shares of the industrial products company’s stock, valued at approximately $4,868,000.

A number of other hedge funds also recently bought and sold shares of the stock. NewFocus Financial Group LLC increased its stake in Dover by 1.4% in the 4th quarter. NewFocus Financial Group LLC now owns 39,187 shares of the industrial products company’s stock worth $3,957,000 after buying an additional 528 shares during the period. Reilly Herbert Faulkner III increased its stake in Dover by 1.1% in the 4th quarter. Reilly Herbert Faulkner III now owns 47,655 shares of the industrial products company’s stock worth $4,813,000 after buying an additional 529 shares during the period. Commonwealth Equity Services Inc increased its stake in Dover by 5.3% in the 3rd quarter. Commonwealth Equity Services Inc now owns 11,590 shares of the industrial products company’s stock worth $1,059,000 after buying an additional 582 shares during the period. Crossmark Global Holdings Inc. increased its stake in Dover by 4.5% in the 4th quarter. Crossmark Global Holdings Inc. now owns 13,707 shares of the industrial products company’s stock worth $1,384,000 after buying an additional 584 shares during the period. Finally, Global Financial Private Capital LLC increased its stake in Dover by 15.8% in the 4th quarter. Global Financial Private Capital LLC now owns 4,526 shares of the industrial products company’s stock worth $457,000 after buying an additional 616 shares during the period. 88.17% of the stock is currently owned by institutional investors.

Dover Corp (DOV) opened at $98.35 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.40 and a quick ratio of 1.01. Dover Corp has a 12-month low of $76.23 and a 12-month high of $109.06. The stock has a market cap of $15,187.64, a P/E ratio of 24.40, a PEG ratio of 1.29 and a beta of 1.28.

Dover (NYSE:DOV) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. Dover had a net margin of 10.37% and a return on equity of 15.24%. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. research analysts forecast that Dover Corp will post 5.86 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Tuesday, February 27th. Dover’s payout ratio is currently 36.50%.

In other news, insider Stephen Gary Kennon sold 15,702 shares of Dover 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Paul Goldberg sold 3,300 shares of Dover stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $102.00, for a total transaction of $336,600.00. Following the completion of the transaction, the vice president now directly owns 4,545 shares in the company, valued at approximately $463,590. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,897 shares of company stock worth $2,031,745. Insiders own 2.50% of the company’s stock.

A number of research firms have commented on DOV. Barclays began coverage on shares of Dover in a research report on Thursday, February 15th. They set an “overweight” rating and a $120.00 target price on the stock. SunTrust Banks raised their target price on shares of Dover to $106.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Zacks Investment Research raised shares of Dover from a “hold” rating to a “buy” rating and set a $116.00 target price on the stock in a research report on Friday, January 19th. Stifel Nicolaus reissued a “hold” rating and set a $100.00 target price on shares of Dover in a research report on Thursday, December 14th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $100.00 target price on shares of Dover in a research report on Thursday, January 4th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Dover currently has a consensus rating of “Hold” and a consensus target price of $107.83.

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Dover Profile

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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