AXQ Capital LP Buys Shares of 11,844 Dover Corporation $DOV

AXQ Capital LP bought a new stake in shares of Dover Corporation (NYSE:DOV) during the 3rd quarter, Holdings Channel.com reports. The fund bought 11,844 shares of the industrial products company’s stock, valued at approximately $1,976,000. Dover comprises approximately 0.8% of AXQ Capital LP’s investment portfolio, making the stock its largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Compound Planning Inc. raised its position in shares of Dover by 10.2% during the 3rd quarter. Compound Planning Inc. now owns 2,371 shares of the industrial products company’s stock worth $396,000 after purchasing an additional 219 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Dover by 35.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,085 shares of the industrial products company’s stock worth $348,000 after buying an additional 545 shares in the last quarter. Legacy Financial Advisors Inc. raised its holdings in shares of Dover by 10.7% during the third quarter. Legacy Financial Advisors Inc. now owns 4,525 shares of the industrial products company’s stock valued at $755,000 after acquiring an additional 439 shares during the last quarter. Clearstead Advisors LLC lifted its position in shares of Dover by 19.3% in the third quarter. Clearstead Advisors LLC now owns 2,867 shares of the industrial products company’s stock valued at $478,000 after acquiring an additional 464 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in Dover by 1.6% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 8,018 shares of the industrial products company’s stock worth $1,338,000 after purchasing an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Activity at Dover

In other news, CFO Christopher B. Woenker sold 1,627 shares of the firm’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $186.04, for a total value of $302,687.08. Following the transaction, the chief financial officer directly owned 2,553 shares in the company, valued at $474,960.12. This trade represents a 38.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Girish Juneja sold 1,500 shares of Dover stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $230.77, for a total transaction of $346,155.00. Following the transaction, the vice president owned 8,422 shares in the company, valued at $1,943,544.94. The trade was a 15.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 86,754 shares of company stock worth $20,000,768 in the last 90 days. Company insiders own 1.20% of the company’s stock.

Dover Price Performance

Shares of NYSE:DOV opened at $230.40 on Tuesday. The company has a 50-day simple moving average of $209.60 and a 200-day simple moving average of $188.82. Dover Corporation has a one year low of $143.04 and a one year high of $237.54. The stock has a market capitalization of $31.07 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 1.79 and a beta of 1.29. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. The firm 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%.Dover’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.20 earnings per share. On average, analysts predict that Dover Corporation will post 9.45 EPS for the current year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a yield of 0.9%. Dover’s dividend payout ratio (DPR) is currently 26.20%.

Analyst Ratings Changes

DOV has been the subject of a number of recent research reports. Barclays set a $206.00 target price on Dover in a research note on Monday, February 2nd. Wells Fargo & Company boosted their target price on shares of Dover from $205.00 to $210.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Citigroup restated a “buy” rating on shares of Dover in a report on Monday, January 12th. UBS Group set a $256.00 price objective on Dover and gave the company a “buy” rating in a report on Sunday, January 4th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $224.00 price objective on shares of Dover in a research report on Saturday, January 31st. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and an average target price 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.