National Pension Service Acquires 10,910 Shares of Dover Corporation $DOV

National Pension Service grew its holdings in shares of Dover Corporation (NYSE:DOV) by 4.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 246,116 shares of the industrial products company’s stock after acquiring an additional 10,910 shares during the quarter. National Pension Service’s holdings in Dover were worth $41,060,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in DOV. AdvisorShares Investments LLC purchased a new position in Dover in the 2nd quarter worth $30,000. Vermillion & White Wealth Management Group LLC increased its holdings in shares of Dover by 122.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock worth $31,000 after buying an additional 93 shares during the period. Caldwell Trust Co bought a new stake in shares of Dover in the 2nd quarter valued at about $31,000. Harbour Investments Inc. boosted its holdings in Dover by 51.7% during the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 60 shares during the period. Finally, Ameritas Advisory Services LLC bought a new position in Dover during the 2nd quarter worth approximately $37,000. Institutional investors own 84.46% of the company’s stock.

Insider Buying and Selling at Dover

In other news, CFO Christopher B. Woenker sold 1,627 shares of the business’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $186.04, for a total transaction of $302,687.08. Following the sale, the chief financial officer owned 2,553 shares in the company, valued at approximately $474,960.12. The trade was a 38.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $190.80, for a total transaction of $501,804.00. Following the completion of the transaction, the senior vice president owned 72,968 shares of the company’s stock, valued at approximately $13,922,294.40. The trade was a 3.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on Dover from $205.00 to $210.00 and gave the company an “equal weight” rating in a research note on Friday. UBS Group set a $256.00 price target on shares of Dover and gave the company a “buy” rating in a research report on Sunday, January 4th. JPMorgan Chase & Co. raised their price target on shares of Dover from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday. Robert W. Baird set a $255.00 price objective on shares of Dover in a research note on Friday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Dover in a research note on Monday, December 29th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and an average price target of $222.75.

Dover Trading Up 2.9%

Shares of DOV opened at $207.41 on Tuesday. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. The firm’s 50-day moving average price is $198.63 and its 200-day moving average price is $184.05. The firm has a market capitalization of $28.45 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 1.55 and a beta of 1.29.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.09 billion. Dover had a net margin of 13.52% and a return on equity of 17.87%. Dover’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.20 earnings per share. Sell-side analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were given a dividend of $0.52 per share. The ex-dividend date was Friday, November 28th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. Dover’s payout ratio is currently 26.20%.

Dover Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover’s activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.