Toronto Dominion Bank Purchases 68,300 Shares of Dover Co. (NYSE:DOV)

Toronto Dominion Bank increased its position in Dover Co. (NYSE:DOVGet Rating) by 94.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 140,491 shares of the industrial products company’s stock after purchasing an additional 68,300 shares during the quarter. Toronto Dominion Bank owned approximately 0.10% of Dover worth $25,513,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in DOV. FMR LLC grew its stake in Dover by 32.3% in the first quarter. FMR LLC now owns 167,288 shares of the industrial products company’s stock worth $15,692,000 after purchasing an additional 40,841 shares in the last quarter. Morgan Stanley grew its stake in Dover by 13.8% in the second quarter. Morgan Stanley now owns 853,651 shares of the industrial products company’s stock worth $128,561,000 after purchasing an additional 103,569 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in Dover by 1.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 74,823 shares of the industrial products company’s stock worth $11,635,000 after purchasing an additional 821 shares in the last quarter. WINTON GROUP Ltd grew its stake in Dover by 83.6% in the third quarter. WINTON GROUP Ltd now owns 4,545 shares of the industrial products company’s stock worth $707,000 after purchasing an additional 2,070 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its holdings in Dover by 100.0% during the third quarter. Illinois Municipal Retirement Fund now owns 41,430 shares of the industrial products company’s stock worth $6,442,000 after buying an additional 20,719 shares during the period. 82.30% of the stock is currently owned by institutional investors.

In other Dover news, VP Anthony K. Kosinski sold 3,287 shares of the stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $153.43, for a total transaction of $504,324.41. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Richard J. Tobin sold 31,515 shares of the stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $156.91, for a total value of $4,945,018.65. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

NYSE DOV opened at $146.62 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.36 and a quick ratio of 0.83. The stock’s fifty day moving average price is $155.69 and its 200 day moving average price is $165.76. Dover Co. has a 1 year low of $138.87 and a 1 year high of $184.04. The company has a market cap of $21.12 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 1.22 and a beta of 1.40.

Dover (NYSE:DOVGet Rating) last released its earnings results on Thursday, January 27th. The industrial products company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.12. Dover had a return on equity of 28.99% and a net margin of 14.21%. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the prior year, the firm earned $1.55 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. Research analysts expect that Dover Co. will post 8.57 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Monday, February 28th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Friday, February 25th. Dover’s payout ratio is 25.87%.

A number of analysts have weighed in on the company. StockNews.com assumed coverage on Dover in a report on Thursday, March 31st. They set a “buy” rating for the company. Barclays lowered Dover from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $190.00 to $160.00 in a report on Friday, April 8th. Morgan Stanley lowered their target price on Dover from $196.00 to $177.00 and set an “equal weight” rating for the company in a report on Thursday, April 7th. Wells Fargo & Company upgraded Dover from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $165.00 to $184.00 in a report on Monday, December 20th. Finally, Citigroup upped their target price on Dover from $218.00 to $221.00 in a report on Friday, January 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $181.77.

About Dover (Get Rating)

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

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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