Candriam S.C.A. Increases Holdings in Dover Corporation $DOV

Candriam S.C.A. boosted its position in Dover Corporation (NYSE:DOV) by 5.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,127 shares of the industrial products company’s stock after purchasing an additional 2,740 shares during the period. Candriam S.C.A.’s holdings in Dover were worth $8,363,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of DOV. Smartleaf Asset Management LLC grew its holdings in Dover by 77.5% in the third quarter. Smartleaf Asset Management LLC now owns 1,635 shares of the industrial products company’s stock valued at $272,000 after purchasing an additional 714 shares during the last quarter. Alps Advisors Inc. boosted its position in shares of Dover by 110.8% in the 3rd quarter. Alps Advisors Inc. now owns 12,955 shares of the industrial products company’s stock worth $2,161,000 after buying an additional 6,808 shares in the last quarter. Bessemer Group Inc. grew its stake in Dover by 6.4% in the 3rd quarter. Bessemer Group Inc. now owns 3,084 shares of the industrial products company’s stock valued at $515,000 after acquiring an additional 186 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in Dover by 44.7% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 10,370 shares of the industrial products company’s stock valued at $1,730,000 after acquiring an additional 3,201 shares in the last quarter. Finally, Machina Capital S.A.S. lifted its holdings in shares of Dover by 91.8% in the third quarter. Machina Capital S.A.S. now owns 16,834 shares of the industrial products company’s stock valued at $2,808,000 after purchasing an additional 8,055 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Up 2.0%

Shares of NYSE:DOV opened at $229.47 on Wednesday. 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 has a market cap of $31.47 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 1.73 and a beta of 1.29. The stock’s 50-day moving average price is $202.84 and its two-hundred day moving average price is $185.45. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $230.36.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Dover had a net margin of 13.52% and a return on equity of 17.87%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the company posted $2.20 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, research analysts forecast that Dover Corporation will post 9.45 EPS for the current year.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on DOV shares. Wells Fargo & Company raised their price objective on shares of Dover from $205.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th. Citigroup reissued a “buy” rating on shares of Dover in a research report on Monday, January 12th. Robert W. Baird set a $255.00 price target on Dover in a report on Friday, January 30th. Oppenheimer increased their price objective on Dover from $228.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Dover in a research note on Monday, December 29th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.