Two Point Capital Management Inc. Grows Stake in Dover Co. (NYSE:DOV)

Two Point Capital Management Inc. increased its holdings in shares of Dover Co. (NYSE:DOV) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,526 shares of the industrial products company’s stock after purchasing an additional 848 shares during the quarter. Dover makes up 2.8% of Two Point Capital Management Inc.’s portfolio, making the stock its 20th biggest holding. Two Point Capital Management Inc.’s holdings in Dover were worth $6,079,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its position in Dover by 10.5% during the 3rd quarter. FMR LLC now owns 2,390,670 shares of the industrial products company’s stock valued at $333,522,000 after purchasing an additional 226,646 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Dover by 5.5% in the 3rd quarter. Northern Trust Corp now owns 1,724,613 shares of the industrial products company’s stock valued at $240,601,000 after acquiring an additional 89,774 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings in shares of Dover by 160.2% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,428,710 shares of the industrial products company’s stock valued at $199,319,000 after acquiring an additional 879,533 shares during the period. Invesco Ltd. increased its holdings in shares of Dover by 14.9% in the 3rd quarter. Invesco Ltd. now owns 1,025,505 shares of the industrial products company’s stock valued at $143,068,000 after acquiring an additional 133,241 shares during the period. Finally, Corient Private Wealth LLC increased its holdings in shares of Dover by 3.6% in the 3rd quarter. Corient Private Wealth LLC now owns 992,449 shares of the industrial products company’s stock valued at $138,457,000 after acquiring an additional 34,207 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Activity

In other Dover news, Director Stephen M. Todd sold 1,500 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $171.19, for a total transaction of $256,785.00. Following the completion of the transaction, the director now owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Dover news, Director Stephen M. Todd sold 1,500 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $171.19, for a total transaction of $256,785.00. Following the completion of the sale, the director now owns 22,955 shares of the company’s stock, valued at $3,929,666.45. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brad M. Cerepak sold 18,410 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $163.01, for a total value of $3,001,014.10. Following the transaction, the chief financial officer now owns 23,909 shares in the company, valued at approximately $3,897,406.09. The disclosure for this sale can be found here. Insiders sold 25,910 shares of company stock valued at $4,318,059 in the last three months. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DOV has been the topic of several research analyst reports. Oppenheimer boosted their target price on Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research note on Friday. Citigroup boosted their price target on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Robert W. Baird boosted their price objective on Dover from $185.00 to $208.00 and gave the company an “outperform” rating in a report on Friday. Wells Fargo & Company boosted their price objective on Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Mizuho boosted their price objective on Dover from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $185.75.

Dover Stock Performance

Shares of DOV stock traded up $1.88 during mid-day trading on Friday, hitting $180.99. 613,653 shares of the stock were exchanged, compared to its average volume of 962,152. The stock’s fifty day simple moving average is $171.37 and its two-hundred day simple moving average is $154.02. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.90 and a current ratio of 1.40. The stock has a market capitalization of $24.86 billion, a price-to-earnings ratio of 24.07, a P/E/G ratio of 1.78 and a beta of 1.27. Dover Co. has a 12-month low of $127.25 and a 12-month high of $181.49.

Dover (NYSE:DOV) last announced its earnings results on Thursday, April 25th. The industrial products company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.07. Dover had a return on equity of 25.95% and a net margin of 12.52%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business posted $1.94 EPS. The company’s revenue was up .7% on a year-over-year basis. On average, analysts forecast that Dover Co. will post 9.07 EPS for the current year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.51 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $2.04 annualized dividend and a dividend yield of 1.13%. Dover’s dividend payout ratio is currently 27.13%.

About Dover

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.