Congress Asset Management Co. MA Purchases 23,629 Shares of Dover Co. (NYSE:DOV)

Congress Asset Management Co. MA lifted its position in Dover Co. (NYSE:DOV) by 3.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 632,647 shares of the industrial products company’s stock after acquiring an additional 23,629 shares during the quarter. Congress Asset Management Co. MA owned 0.44% of Dover worth $86,755,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Concord Wealth Partners purchased a new position in Dover in the 4th quarter worth about $26,000. Capital Directions Investment Advisors LLC increased its stake in Dover by 100.0% in the 4th quarter. Capital Directions Investment Advisors LLC now owns 220 shares of the industrial products company’s stock worth $28,000 after buying an additional 110 shares during the period. Bogart Wealth LLC purchased a new position in Dover in the 1st quarter worth about $30,000. Mcmillion Capital Management Inc. purchased a new position in Dover in the 4th quarter worth about $29,000. Finally, Wealthcare Advisory Partners LLC purchased a new position in Dover in the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 82.70% of the company’s stock.

NYSE:DOV opened at $151.40 on Monday. Dover Co. has a fifty-two week low of $84.10 and a fifty-two week high of $155.77. The stock has a market capitalization of $21.79 billion, a P/E ratio of 32.91, a P/E/G ratio of 1.78 and a beta of 1.30. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.00 and a current ratio of 1.47. The company’s 50-day simple moving average is $144.18 and its 200-day simple moving average is $129.02.

Dover (NYSE:DOV) last released its earnings results on Monday, April 19th. The industrial products company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.36. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Dover had a net margin of 10.02% and a return on equity of 26.73%. Dover’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the business earned $1.39 EPS. On average, research analysts forecast that Dover Co. will post 5.49 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Friday, May 28th will be paid a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a yield of 1.31%. The ex-dividend date is Thursday, May 27th. Dover’s payout ratio is 33.39%.

In other Dover news, SVP Ivonne M. Cabrera sold 3,617 shares of Dover stock in a transaction that occurred on Monday, March 8th. The shares were sold at an average price of $133.00, for a total transaction of $481,061.00. Following the completion of the sale, the senior vice president now directly owns 21,454 shares in the company, valued at approximately $2,853,382. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.98% of the company’s stock.

A number of research analysts have commented on the stock. Royal Bank of Canada raised their target price on shares of Dover from $142.00 to $149.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 21st. Barclays raised their target price on shares of Dover from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Tuesday, April 27th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on shares of Dover from $159.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, April 27th. Oppenheimer reissued a “hold” rating on shares of Dover in a research report on Wednesday, January 27th. Finally, Citigroup raised their target price on shares of Dover from $159.00 to $170.00 in a research report on Wednesday, April 21st. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $149.91.

About Dover

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The Engineered Products segment provides aftermarket vehicle, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, bearings, drives, electric monitoring, and fluid dispensing systems.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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