CIBC Asset Management Inc Has $1.01 Million Holdings in Dover Corp (DOV)

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CIBC Asset Management Inc lowered its position in Dover Corp (NYSE:DOV) by 2.5% in the 4th quarter, Holdings Channel reports. The firm owned 14,205 shares of the industrial products company’s stock after selling 367 shares during the quarter. CIBC Asset Management Inc’s holdings in Dover were worth $1,008,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. lifted its stake in Dover by 17.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 41,697 shares of the industrial products company’s stock valued at $3,691,000 after acquiring an additional 6,231 shares in the last quarter. Chicago Equity Partners LLC bought a new stake in Dover in the 3rd quarter valued at approximately $565,000. Private Advisor Group LLC lifted its stake in Dover by 94.8% in the 3rd quarter. Private Advisor Group LLC now owns 7,497 shares of the industrial products company’s stock valued at $664,000 after acquiring an additional 3,649 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Dover by 14.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 16,406 shares of the industrial products company’s stock valued at $1,452,000 after acquiring an additional 2,090 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Dover by 14.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 44,699 shares of the industrial products company’s stock valued at $3,957,000 after acquiring an additional 5,477 shares in the last quarter. 85.73% of the stock is owned by institutional investors and hedge funds.

NYSE:DOV opened at $90.72 on Friday. The company has a market cap of $13.13 billion, a price-to-earnings ratio of 18.25, a P/E/G ratio of 1.32 and a beta of 1.49. Dover Corp has a twelve month low of $65.83 and a twelve month high of $93.20. The company has a current ratio of 1.37, a quick ratio of 0.96 and a debt-to-equity ratio of 1.06.

Dover (NYSE:DOV) last posted its quarterly earnings results on Tuesday, January 29th. The industrial products company reported $1.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.14. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. Dover had a return on equity of 24.90% and a net margin of 7.84%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.84 EPS. Research analysts forecast that Dover Corp will post 5.72 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Wednesday, February 27th. Dover’s payout ratio is presently 38.63%.

Several research firms have commented on DOV. SunTrust Banks boosted their target price on Dover to $91.00 and gave the company a “hold” rating in a research note on Wednesday, January 30th. They noted that the move was a valuation call. Oppenheimer reaffirmed a “hold” rating on shares of Dover in a research report on Tuesday, January 29th. Barclays lowered their price target on Dover from $97.00 to $93.00 and set an “overweight” rating on the stock in a research report on Monday, December 17th. UBS Group raised Dover from a “neutral” rating to a “buy” rating and set a $76.35 price target on the stock in a research report on Thursday, January 10th. Finally, Zacks Investment Research lowered Dover from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Dover presently has a consensus rating of “Hold” and a consensus price target of $89.80.

In related news, VP William Spurgeon sold 13,102 shares of the business’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $87.19, for a total transaction of $1,142,363.38. Following the transaction, the vice president now directly owns 6,393 shares of the company’s stock, valued at approximately $557,405.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Carrie L. Anderson sold 9,038 shares of the business’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $91.95, for a total value of $831,044.10. Following the transaction, the vice president now directly owns 4,192 shares in the company, valued at $385,454.40. The disclosure for this sale can be found here. Insiders have sold a total of 48,200 shares of company stock worth $4,277,800 over the last three months. 2.60% of the stock is owned by insiders.

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Dover Company Profile

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual clamps, power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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