Dover Corporation $DOV Stake Boosted by Machina Capital S.A.S.

Machina Capital S.A.S. raised its position in shares of Dover Corporation (NYSE:DOV) by 91.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,834 shares of the industrial products company’s stock after buying an additional 8,055 shares during the quarter. Machina Capital S.A.S.’s holdings in Dover were worth $2,808,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in DOV. First Trust Advisors LP raised its holdings in shares of Dover by 717.4% during the second quarter. First Trust Advisors LP now owns 1,716,256 shares of the industrial products company’s stock valued at $314,470,000 after acquiring an additional 1,506,288 shares during the period. Norges Bank purchased a new position in Dover during the 2nd quarter worth approximately $274,135,000. AQR Capital Management LLC raised its stake in Dover by 912.9% during the 2nd quarter. AQR Capital Management LLC now owns 789,409 shares of the industrial products company’s stock valued at $144,572,000 after purchasing an additional 711,471 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Dover by 133.6% in the third quarter. Assenagon Asset Management S.A. now owns 656,349 shares of the industrial products company’s stock valued at $109,499,000 after purchasing an additional 375,333 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Dover by 46.8% in the second quarter. Hsbc Holdings PLC now owns 901,460 shares of the industrial products company’s stock valued at $165,158,000 after purchasing an additional 287,362 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada lifted their price target on Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a report on Friday. Barclays set a $206.00 price objective on Dover in a research report on Monday. JPMorgan Chase & Co. upped their target price on Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, January 30th. UBS Group set a $256.00 price target on shares of Dover and gave the stock a “buy” rating in a report on Sunday, January 4th. Finally, Oppenheimer boosted their price objective on shares of Dover from $228.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $222.75.

Insider Activity at Dover

In related news, CFO Christopher B. Woenker sold 1,627 shares of the company’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 completion of the sale, the chief financial officer directly owned 2,553 shares of the company’s stock, valued at approximately $474,960.12. This represents a 38.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the firm’s stock in a transaction on Thursday, December 4th. The shares were 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 in the company, valued at $13,922,294.40. The trade was a 3.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.20% of the company’s stock.

Dover Stock Performance

Shares of DOV opened at $211.53 on Wednesday. The firm has a market cap of $29.01 billion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 1.59 and a beta of 1.29. The company’s fifty day moving average is $199.14 and its 200-day moving average is $184.21. The company has a quick ratio of 1.28, a current ratio of 1.79 and a debt-to-equity ratio of 0.35. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31.

Dover (NYSE:DOV) last posted its earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.03. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.09 billion. Dover had a return on equity of 17.87% and a net margin of 13.52%.The business’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company earned $2.20 earnings per share. Equities analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

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

Dover Company 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.