Alethea Capital Management LLC Takes Position in Dover Corp (DOV)

Alethea Capital Management LLC purchased a new stake in shares of Dover Corp (NYSE:DOV) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 13,460 shares of the industrial products company’s stock, valued at approximately $1,263,000. Dover makes up approximately 0.9% of Alethea Capital Management LLC’s portfolio, making the stock its 15th biggest position.

Several other large investors also recently modified their holdings of the company. Raymond James & Associates boosted its position in Dover by 22.5% in the first quarter. Raymond James & Associates now owns 236,052 shares of the industrial products company’s stock worth $22,142,000 after purchasing an additional 43,308 shares during the last quarter. Wakefield Asset Management LLLP purchased a new position in Dover in the first quarter worth about $338,000. Toronto Dominion Bank boosted its position in Dover by 15.6% in the first quarter. Toronto Dominion Bank now owns 99,687 shares of the industrial products company’s stock worth $9,348,000 after purchasing an additional 13,418 shares during the last quarter. First Mercantile Trust Co. boosted its position in Dover by 2,204.3% in the first quarter. First Mercantile Trust Co. now owns 5,300 shares of the industrial products company’s stock worth $497,000 after purchasing an additional 5,070 shares during the last quarter. Finally, Cetera Advisor Networks LLC purchased a new position in Dover in the first quarter worth about $271,000. Hedge funds and other institutional investors own 86.56% of the company’s stock.

DOV has been the topic of several research reports. Zacks Investment Research cut Dover from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. Citigroup set a $113.00 target price on Dover and gave the stock a “buy” rating in a research report on Monday, April 22nd. Morgan Stanley raised their target price on Dover from $92.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, March 8th. Oppenheimer reissued a “hold” rating on shares of Dover in a research report on Tuesday, January 29th. Finally, Barclays raised their target price on Dover from $93.00 to $99.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 3rd. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $94.10.

In other news, VP Anthony K. Kosinski sold 4,241 shares of Dover stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $90.53, for a total transaction of $383,937.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Carrie L. Anderson sold 9,038 shares of Dover stock in a transaction that occurred on Tuesday, February 26th. The shares were sold at an average price of $91.95, for a total value of $831,044.10. Following the sale, the vice president now directly owns 4,192 shares in the company, valued at approximately $385,454.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,463 shares of company stock worth $1,411,695. Insiders own 1.70% of the company’s stock.

DOV stock opened at $96.09 on Wednesday. Dover Corp has a twelve month low of $65.83 and a twelve month high of $99.46. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.87 and a current ratio of 1.30. The stock has a market cap of $13.82 billion, a PE ratio of 19.33, a P/E/G ratio of 1.46 and a beta of 1.49.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, April 18th. The industrial products company reported $1.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.12. Dover had a return on equity of 28.48% and a net margin of 7.69%. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the firm earned $0.90 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, equities analysts forecast that Dover Corp will post 5.81 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, May 30th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.00%. Dover’s payout ratio is currently 38.63%.

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About Dover

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through 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 and 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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