Citizens Financial Group Inc. RI Invests $348,000 in Dover Co. (NYSE:DOV)

Citizens Financial Group Inc. RI bought a new position in shares of Dover Co. (NYSE:DOV) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,967 shares of the industrial products company’s stock, valued at approximately $348,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. LRI Investments LLC acquired a new stake in shares of Dover during the first quarter worth $28,000. AdvisorNet Financial Inc raised its position in shares of Dover by 783.3% during the fourth quarter. AdvisorNet Financial Inc now owns 212 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 188 shares during the period. Northwest Financial Advisors acquired a new stake in shares of Dover during the fourth quarter worth $36,000. Transcendent Capital Group LLC raised its position in shares of Dover by 208.0% during the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 156 shares during the period. Finally, North Star Investment Management Corp. raised its position in shares of Dover by 93.0% during the first quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 120 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Dover

In other news, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total transaction of $801,305.19. Following the completion of the sale, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,274,887.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DOV. Citigroup upped their price target on Dover from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Royal Bank of Canada upped their price target on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Oppenheimer upped their price target on Dover from $187.00 to $197.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Wells Fargo & Company upped their price target on Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Finally, StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.63.

Dover Stock Performance

Shares of NYSE DOV opened at $175.50 on Friday. The company has a market capitalization of $24.12 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 2.13 and a beta of 1.22. The business’s 50-day moving average price is $181.14 and its two-hundred day moving average price is $173.71. Dover Co. has a one year low of $127.25 and a one year high of $192.31. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.05 EPS. Analysts anticipate that Dover Co. will post 9.15 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.17%. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio is 19.60%.

Dover Company Profile

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.