Banco Santander S.A. Acquires Shares of 51,560 Dover Corporation $DOV

Banco Santander S.A. bought a new position in shares of Dover Corporation (NYSE:DOV) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 51,560 shares of the industrial products company’s stock, valued at approximately $8,602,000.

A number of other large investors have also added to or reduced their stakes in the company. DNB Asset Management AS lifted its holdings in Dover by 3.6% in the 3rd quarter. DNB Asset Management AS now owns 37,481 shares of the industrial products company’s stock worth $6,253,000 after buying an additional 1,311 shares in the last quarter. Hohimer Wealth Management LLC increased its position in shares of Dover by 19.7% during the third quarter. Hohimer Wealth Management LLC now owns 12,759 shares of the industrial products company’s stock worth $2,129,000 after acquiring an additional 2,102 shares during the last quarter. Westpac Banking Corp lifted its stake in shares of Dover by 1.1% in the third quarter. Westpac Banking Corp now owns 24,464 shares of the industrial products company’s stock worth $4,081,000 after acquiring an additional 260 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Dover by 1.6% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 300,143 shares of the industrial products company’s stock valued at $50,073,000 after purchasing an additional 4,703 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in Dover during the 3rd quarter valued at approximately $1,153,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Dover

In related news, CEO Richard J. Tobin sold 76,997 shares of Dover stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $232.70, for a total value of $17,917,201.90. Following the sale, the chief executive officer directly owned 217,979 shares in the company, valued at $50,723,713.30. This trade represents a 26.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Ivonne M. Cabrera sold 4,000 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total transaction of $932,920.00. Following the completion of the transaction, the senior vice president owned 72,188 shares of the company’s stock, valued at approximately $16,836,407.24. This trade represents a 5.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 85,127 shares of company stock worth $19,698,081. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Weiss Ratings cut Dover from a “buy (b)” rating to a “hold (c+)” rating in a research note on Tuesday, February 17th. Wall Street Zen upgraded shares of Dover from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group set a $256.00 target price on shares of Dover and gave the stock a “buy” rating in a research report on Sunday, January 4th. Citigroup reaffirmed a “buy” rating on shares of Dover in a research report on Monday, January 12th. Finally, Robert W. Baird set a $255.00 price objective on Dover in a report on Friday, January 30th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $224.00.

Dover Price Performance

Shares of NYSE:DOV opened at $225.32 on Friday. The company has a market cap of $30.39 billion, a PE ratio of 28.38, a P/E/G ratio of 1.74 and a beta of 1.29. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $237.54. The firm has a 50-day simple moving average of $212.11 and a 200 day simple moving average of $190.10. 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 (NYSE:DOV) last issued its earnings results 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. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 earnings per share. On average, sell-side analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Dividend Announcement

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