It is never too late to investigate the current trends and happenings in the stock market. As of June 3, 2023, there has been some intriguing news surrounding Dover Co. (NYSE:DOV), a prominent industrial products company that is currently on the radar of several investment firms.
One such firm, Engine No. 1 LLC, recently purchased a new position in Dover Co., according to their most recent filing with the Securities and Exchange Commission. The fund management group acquired 1,545 shares of the company’s stock for approximately $209,000 during the fourth quarter. This move raises interest among industry professionals as they try to anticipate Engine No.1’s strategy and reasoning for investing in Dover Co.
Furthermore, analysts have been closely studying Dover’s performance over the past year. On April 26th of this year, the company released its earnings results which were met with high anticipation. The industrial products company reported an earnings per share (EPS) of $1.94 for the quarter, meeting the consensus estimate set forth by experts in financial markets.
In terms of revenue, Dover generated $2.08 billion during Q1 2023 which was consistent with analyst projections as well. Their net margin sat at an impressive 12.51% while return on equity stood at an admirable 28.27%. In comparison to Q1 of last year, revenue grew by a notable 1.4%, coming in just shy of estimates which were predicted to exceed this value.
Though EPS figures stood at $1.90 last year versus this year’s value of $1.94 per share – it’s worth noting that overall profitability has continued to rise steadily throughout recent months.
Another detail that has garnered some attention is that CFO Brad M. Cerepak sold just under 35k shares earlier this year for a total transaction value exceeding $5 million dollars! Given his elevated position within the company, it’s easy to understand why this move raised some eyebrows in the financial world.
The ins and outs of company stocks can change rapidly, hence investors are always on their toes – searching for clues about patterns and trends that could affect their current portfolio status. That being said, whether you are an enthusiast who follows these trends or an investor with a keen strategy, keeping an eye on stocks like Dover Co., with all its upsides and downsides, may be a wise idea.
[bs_slider_forecast ticker=”DOV”]
Institutional Investors and Analysts Show Interest in Dover Co.
Dover Co. (DOV) has seen a number of hedge funds and institutional investors making changes to their positions in the company. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Dover during the fourth quarter for approximately $29,000, while Glass Jacobson Investment Advisors LLC bought a new stake for $31,000. Concord Wealth Partners also acquired a new stake during the fourth quarter worth around $41,000, with Fairfield Bush & CO. acquiring a new stake during the first quarter valued at $48,000 and Guardian Wealth Advisors completing acquisitions totalling $50,000 worth of new stakes in shares of DOV last year.
Currently 85.52% of Dover Co.’s stocks are owned by institutional investors with DOV stock opening at $135.06 on Friday June 3rd. The company offers quick ratio of 0.76, current ratio of 1.32 and debt-to-equity ratio of 0.66 which has led to a market capitalization of $18.89bn.
Dover co.’s price-to-earnings ratio is currently valued at 18.01 with P/E/G standing at 1.06 and beta of 1.35 indicating its resilience to daily market fluctuations over the past year when its share price fluctuated between $114.49 USD and $160.66 USD.
Meanwhile, Brad M.Cerepak Dover’s CFO recently sold off over 34k shares amounting to about $5m USD in transaction on Monday March 13th following other insider dealings reported by SEC filings which totalled 1:3% ownership as recorded by insiders.
Dover paid out annual dividends last June having announced that paying shareholders on Thursday June 15th and thus investors holding securities preceding Wednesday May 31st will be entitled to receive dividend payments totalling 2 cent per one share held; translating to an annual dividend of $2.02 per share adding a dividend yield of 1.50%. The company is currently maintaining a dividend payout ratio of 26.93%.
Of late, Resource reports revealed that five research analysts have rated Dover with a hold rating, while nine have given it a buy rating and average ratings are positioned around ‘Moderate Buy’, with consensus target price sitting at $162.31 USD as at June 3rd 2023.
