Elevatus Welath Management Acquires Shares of 9,442 Dover Corporation $DOV

Elevatus Welath Management bought a new position in Dover Corporation (NYSE:DOV) during the 4th quarter, Holdings Channel.com reports. The fund bought 9,442 shares of the industrial products company’s stock, valued at approximately $1,843,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DOV. Global X Japan Co. Ltd. grew its stake in Dover by 4.8% during the fourth quarter. Global X Japan Co. Ltd. now owns 3,445 shares of the industrial products company’s stock valued at $673,000 after acquiring an additional 157 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in Dover in the 4th quarter worth $213,000. Czech National Bank lifted its stake in Dover by 3.8% in the 4th quarter. Czech National Bank now owns 36,161 shares of the industrial products company’s stock worth $7,060,000 after purchasing an additional 1,331 shares in the last quarter. DAVENPORT & Co LLC boosted its holdings in shares of Dover by 3.2% during the 4th quarter. DAVENPORT & Co LLC now owns 5,675 shares of the industrial products company’s stock valued at $1,108,000 after purchasing an additional 174 shares during the last quarter. Finally, Pensionfund Sabic purchased a new position in shares of Dover during the fourth quarter valued at about $1,230,000. Institutional investors own 84.46% of the company’s stock.

Insider Activity at Dover

In related news, VP Girish Juneja sold 1,500 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total transaction of $346,155.00. Following the sale, the vice president owned 8,422 shares in the company, valued at approximately $1,943,544.94. This represents a 15.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard J. Tobin sold 76,997 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $232.70, for a total value of $17,917,201.90. Following the completion of the sale, the chief executive officer owned 217,979 shares of the company’s stock, valued at approximately $50,723,713.30. This represents a 26.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 82,497 shares of company stock worth $19,196,277. Company insiders own 1.30% of the company’s stock.

Dover Stock Down 1.2%

Shares of NYSE:DOV opened at $206.78 on Friday. 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 12 month low of $143.04 and a 12 month high of $237.54. The company has a 50-day moving average price of $216.71 and a 200 day moving average price of $194.71. The company has a market cap of $27.87 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 1.61 and a beta of 1.27.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.03. Dover had a return on equity of 17.87% and a net margin of 13.52%.The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the previous year, the firm posted $2.20 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, equities research analysts predict that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. Dover’s payout ratio is currently 26.20%.

Wall Street Analyst Weigh In

DOV has been the topic of several research reports. UBS Group set a $256.00 target price on Dover and gave the stock a “buy” rating in a report on Sunday, January 4th. Royal Bank Of Canada increased their price target on Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. BNP Paribas Exane started coverage on Dover in a research note on Thursday, December 4th. They issued a “neutral” rating and a $195.00 price objective on the stock. Wells Fargo & Company raised Dover from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $210.00 to $230.00 in a report on Tuesday, March 17th. Finally, Citigroup reiterated a “buy” rating on shares of Dover in a research report on Monday, January 12th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.54.

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.