SageOak Financial LLC Invests $634,000 in Dover Co. (NYSE:DOV)

SageOak Financial LLC acquired a new position in shares of Dover Co. (NYSE:DOV) during the 4th quarter, Holdings Channel reports. The firm acquired 3,380 shares of the industrial products company’s stock, valued at approximately $634,000. Dover accounts for about 0.6% of SageOak Financial LLC’s investment portfolio, making the stock its 28th biggest position.

Other institutional investors also recently modified their holdings of the company. CIBC Asset Management Inc grew its stake in Dover by 7.7% in the 3rd quarter. CIBC Asset Management Inc now owns 20,587 shares of the industrial products company’s stock valued at $3,947,000 after buying an additional 1,474 shares during the last quarter. Empowered Funds LLC grew its stake in Dover by 54.3% in the 3rd quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock valued at $2,523,000 after buying an additional 4,629 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in Dover by 4.7% in the 3rd quarter. Mutual of America Capital Management LLC now owns 43,871 shares of the industrial products company’s stock valued at $8,412,000 after buying an additional 1,966 shares during the last quarter. Swiss National Bank grew its stake in Dover by 0.3% in the 3rd quarter. Swiss National Bank now owns 407,900 shares of the industrial products company’s stock valued at $78,211,000 after buying an additional 1,100 shares during the last quarter. Finally, Quest Partners LLC grew its stake in Dover by 513,400.0% in the 3rd quarter. Quest Partners LLC now owns 5,135 shares of the industrial products company’s stock valued at $985,000 after buying an additional 5,134 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Performance

Shares of Dover stock opened at $180.54 on Wednesday. The company has a 50 day moving average of $194.88 and a 200-day moving average of $193.62. Dover Co. has a 1-year low of $168.20 and a 1-year high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.52 and a debt-to-equity ratio of 0.36. The company has a market cap of $24.78 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 2.06 and a beta of 1.24.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. As a group, equities research analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.14%. The ex-dividend date was Friday, February 28th. Dover’s payout ratio is 10.59%.

Analyst Upgrades and Downgrades

DOV has been the topic of a number of research reports. StockNews.com lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Tuesday. Citigroup decreased their price target on shares of Dover from $236.00 to $222.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. The Goldman Sachs Group boosted their price objective on shares of Dover from $202.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, December 12th. UBS Group cut their price objective on shares of Dover from $217.00 to $211.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Dover from $208.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $218.91.

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.