According to the most recent SEC filing that Assetmark Inc. submitted, the company’s holdings in Dover Co. (NYSE: DOV) increased during the third quarter by a factor of 53.6%. After making an additional purchase of 6,369 shares of stock in the industrial goods company during the quarter, the business now holds 18,251 shares of stock in the industrial goods company. At the end of the most recent reporting period, it was determined that Assetmark Inc.’s Dover holdings had a value of $2,128,000, which was the value determined at the end of that period.
Over the past few months, many additional institutional investors and hedge funds have increased or decreased the percentage of their assets allocated to the company. During the third quarter, Creative Financial Designs Inc. (ADV) made a 3.4% purchase of additional Dover stock, bringing the total amount of the company’s holdings to 98.4%. After making an additional purchase of 122 shares during the most recent fiscal quarter, Creative Financial Designs Inc. (ADV) now holds a total of 3,751 shares of the stock of the industrial goods company. These shares have a value of $437,000 to the business, and the company owns all of them. During the third quarter, Lowe Brockenbrough & Co., Inc. grew its ownership of Dover stock by 0.8%, bringing the total percentage of shares it held to 1.4%. Lowe Brockenbrough & Co., Inc. now has a total of 30,531 shares of the stock of the industrial goods company following the purchase of an additional 240 shares during the most recent quarter. The stock of the industrial goods company is currently valued at $3,559,000. During the third quarter, Atria Investments LLC completed a 2.1% increase in the amount of Dover stock held in its portfolio. Atria Investments LLC now holds 11,864 shares of the industrial products company’s stock after purchasing an additional 240 shares during the most recent quarter. The stock is currently valued at $1,383,000. In the third quarter, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased the amount of Dover stock owned by 30.1%, bringing its total ownership percentage to 100%. Following the acquisition of an additional 35,515 shares during the most recent quarter, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 153,605 shares of the stock held by the industrial goods company. The stock has a value of $17,907,000, and the company has a market capitalization of $17,907,000. Pinnacle Associates Ltd., not to be outdone, increased the percentage of Dover in which it has a stake by 6.9% during the third quarter to compete with other companies. Pinnacle Associates Ltd. now has 6,382 shares of the stock of the industrial goods business after making an additional purchase of 410 shares during the most recent quarter. This gives the company’s holdings a value of $744,000, greater than before the purchase. Institutional investors and hedge funds collectively own 85.52% of the total number of shares in the company, making up the majority of the shareholders.
When trading started on Tuesday, the price of a share of Dover stock was $144.39. Dover Co. is currently trading at $114.49, which is its 12-month low, while it is currently trading at $180.00, which is its 12-month high. The enterprise has a price-to-earnings ratio of 17.94, a PEG ratio of 1.17, and a beta value of 1.34. The company is currently valued at $20.27 billion on the market. The moving average of the company’s stock price over the past 50 days is $138.47, and the moving average over the past 200 days is $130.96. Currently, the debt-to-equity ratio stands at 0.71, the quick ratio stands at 0.68, and the current ratio stands at 1.17.
The most recent quarterly earnings report for Dover (NYSE: DOV) was presented on October 20, which was 20 days after the report’s initial release. The manufacturer of industrial goods reported $2.26 per share for the quarter, which was $0.06 more than analysts in the relevant industry had anticipated the company would earn per share. At $2.20 per share, Dover successfully generated a return on equity of 27.62% and a net margin of 13.93% during the period under review. However, the actual revenue for the company’s performance during the quarter was $2.16 billion, significantly higher than the forecasted figure of $2.15 billion. The company generated $1.98 per share during the same period the year before. In comparison to the same period in the previous year, the third quarter saw a revenue increase of 6.9% for the company. Analysts on the sell side anticipate that Dover will produce earnings of $8.44 per share this year.
In addition, the business recently announced a quarterly dividend, which was paid out on December 15. On Wednesday, November 30, $0.505 dividend payments per share were mailed out to stockholders who already had their information on file. This results in an annual dividend payment of $2.02 and a dividend yield of 1.40 percent when calculated annually. Tuesday, November 29, was the date that shareholders were required to pay taxes on this dividend. This date occurred in November. Dover’s dividend payout ratio is currently sitting at a healthy 25.09%.
The body of knowledge has been expanded thanks to the contributions made by several equity analysts who published their findings on the stock. In a research report that was made public on January 5, Wells Fargo & Company disclosed that they increased their price objective for Dover shares from $135.00 to $145.00 and that they increased their “equal weight” rating for the company. All of these changes were brought to light about Dover. Goldman Sachs Group increased their price objective on Dover stock from $139.00 to $158.00 and gave the stock a “buy” rating in a research note published on Thursday, December 15. In a research note published on December 12, Credit Suisse Group announced that it would begin covering Dover stock as part of its coverage universe. They determined that the stock should reach $171.00 as their price objective and rated the company as having an “outperform” outlook. StockNews.com changed their rating for shares of Dover from “hold” to “buy” in a research note published on Friday, December 16, indicating that they now recommend purchasing the stock. The change was publicized in a news article. Lastly, Barclays increased their price objective on Dover shares from $120.00 to $130.00 and categorized the stock as “equal weight” in a research note published on January 5. The stock has been rated “hold” by five market analysts, while a rating of “buy” has been assigned by another five analysts. The information discovered on Bloomberg.com indicates that the stock is currently rated as having a consensus recommendation of “Moderate Buy,” It currently has an average price target of $149.36.
According to earlier Dover news, Vice President of Dover Anthony K. Kosinski sold 2,203 shares of Dover stock on Monday, October 24. Dover disclosed this information. The shares were sold at an average price of $126.18 per share, which resulted in a total sale price of 277,974.54 dollars. The vice president now directly owns 5,353 of the company’s shares, which have a value of $675,441.54 following the sale of those shares. If you follow the link, you will be taken to a document submitted to the SEC, which will provide you with additional information regarding the sale. 1.20 employed employees own a percent of the company’s total shares.