Applied Finance Capital Management LLC Invests $464,000 in Dover Corporation $DOV

Applied Finance Capital Management LLC bought a new position in Dover Corporation (NYSE:DOV) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 2,782 shares of the industrial products company’s stock, valued at approximately $464,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Machina Capital S.A.S. lifted its position in Dover by 38.8% in the 2nd quarter. Machina Capital S.A.S. now owns 8,779 shares of the industrial products company’s stock valued at $1,609,000 after acquiring an additional 2,452 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Dover by 9.3% in the second quarter. Nordea Investment Management AB now owns 124,031 shares of the industrial products company’s stock valued at $22,701,000 after purchasing an additional 10,581 shares in the last quarter. Generali Asset Management SPA SGR boosted its position in shares of Dover by 103.4% during the third quarter. Generali Asset Management SPA SGR now owns 16,020 shares of the industrial products company’s stock worth $2,673,000 after buying an additional 8,145 shares during the period. SG Americas Securities LLC grew its holdings in shares of Dover by 1,644.9% during the third quarter. SG Americas Securities LLC now owns 26,749 shares of the industrial products company’s stock worth $4,463,000 after buying an additional 25,216 shares in the last quarter. Finally, Advisory Resource Group lifted its stake in Dover by 7.7% in the 2nd quarter. Advisory Resource Group now owns 28,732 shares of the industrial products company’s stock valued at $5,264,000 after acquiring an additional 2,047 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of Dover stock opened at $229.47 on Wednesday. The company has a 50 day moving average of $202.84 and a 200-day moving average of $185.45. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $230.36. The company has a market cap of $31.47 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 1.73 and a beta of 1.29.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) 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 company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.20 EPS. As a group, equities research analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Insider Transactions at Dover

In related news, CFO Christopher B. Woenker sold 1,627 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $186.04, for a total value of $302,687.08. Following the completion of the transaction, the chief financial officer owned 2,553 shares in the company, valued at $474,960.12. This trade represents a 38.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ivonne M. Cabrera sold 2,630 shares of Dover stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $190.80, for a total transaction of $501,804.00. Following the sale, the senior vice president owned 72,968 shares in the company, valued at approximately $13,922,294.40. This represents a 3.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on DOV shares. BNP Paribas Exane started coverage on shares of Dover in a report on Thursday, December 4th. They issued a “neutral” rating and a $195.00 price objective on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a research note on Monday, December 29th. Royal Bank Of Canada raised their price objective on Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. UBS Group set a $256.00 price target on shares of Dover and gave the company a “buy” rating in a research note on Sunday, January 4th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $224.00 target price on shares of Dover in a research note on Saturday, January 31st. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and a consensus price target of $224.00.

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.