Dover Corporation $DOV Stock Position Raised by Alps Advisors Inc.

Alps Advisors Inc. increased its stake in Dover Corporation (NYSE:DOV) by 110.8% during the third quarter, HoldingsChannel.com reports. The fund owned 12,955 shares of the industrial products company’s stock after buying an additional 6,808 shares during the period. Alps Advisors Inc.’s holdings in Dover were worth $2,161,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Bessemer Group Inc. increased 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 worth $515,000 after purchasing an additional 186 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Dover by 44.7% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 10,370 shares of the industrial products company’s stock worth $1,730,000 after buying an additional 3,201 shares during the period. Machina Capital S.A.S. increased its position 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 worth $2,808,000 after acquiring an additional 8,055 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Dover by 1.9% during the third quarter. Hantz Financial Services Inc. now owns 5,774 shares of the industrial products company’s stock valued at $963,000 after acquiring an additional 108 shares during the period. Finally, Ashton Thomas Private Wealth LLC lifted its position in shares of Dover by 58.8% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,074 shares of the industrial products company’s stock valued at $346,000 after acquiring an additional 768 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on DOV. Morgan Stanley set a $210.00 price objective on shares of Dover in a research report on Wednesday, February 4th. Wells Fargo & Company lifted their price target on Dover from $205.00 to $210.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Robert W. Baird set a $255.00 price objective on Dover in a research note on Friday, January 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a research report on Monday, December 29th. Finally, Citigroup reiterated a “buy” rating on shares of Dover in a report on Monday, January 12th. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $224.00.

Insider Transactions at Dover

In other news, SVP Ivonne M. Cabrera sold 2,630 shares of the company’s 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 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 directly owned 2,553 shares in the company, valued at $474,960.12. The trade was a 38.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.20% of the stock is owned by insiders.

Dover Price Performance

Shares of DOV opened at $229.47 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79. The firm has a market cap of $31.47 billion, a PE ratio of 28.90, a PEG ratio of 1.73 and a beta of 1.29. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $230.36. The firm’s 50 day moving average price is $202.84 and its 200 day moving average price is $185.45.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. The business had revenue of $2.10 billion for 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 for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.20 EPS. As a group, research analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.

About Dover

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.