Dover Corporation $DOV Shares Acquired by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its stake in Dover Corporation (NYSE:DOV) by 11.5% in the third quarter, Holdings Channel.com reports. The firm owned 285,157 shares of the industrial products company’s stock after acquiring an additional 29,509 shares during the quarter. Allianz Asset Management GmbH’s holdings in Dover were worth $47,573,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of DOV. AdvisorShares Investments LLC purchased a new position in shares of Dover in the 2nd quarter worth $30,000. Vermillion & White Wealth Management Group LLC increased its stake in Dover by 122.4% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 93 shares during the last quarter. Caldwell Trust Co acquired a new stake in Dover during the second quarter worth about $31,000. Harbour Investments Inc. raised its holdings in shares of Dover by 51.7% in the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 60 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Dover in the 2nd quarter valued at about $37,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Dover stock opened at $219.89 on Thursday. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $220.48. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28. The company has a market capitalization of $30.16 billion, a price-to-earnings ratio of 27.69, a price-to-earnings-growth ratio of 1.62 and a beta of 1.29. The firm’s fifty day moving average price is $199.81 and its 200 day moving average price is $184.46.

Dover (NYSE:DOV) last posted its quarterly earnings data 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. 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 analysts’ expectations of $2.09 billion. During the same period in the prior year, the company posted $2.20 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, research analysts forecast that Dover Corporation will post 9.45 EPS for the current fiscal year.

Insider Activity at Dover

In related news, SVP Ivonne M. Cabrera sold 2,630 shares of Dover stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total value 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. The trade was a 3.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher B. Woenker sold 1,627 shares of the company’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $186.04, for a total transaction of $302,687.08. Following the completion of the sale, the chief financial officer directly owned 2,553 shares in the company, valued at $474,960.12. This represents a 38.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Royal Bank Of Canada raised their price target on shares of Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. JPMorgan Chase & Co. increased their price objective on shares of Dover from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Oppenheimer lifted their target price on shares of Dover from $228.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Robert W. Baird set a $255.00 price target on Dover in a report on Friday, January 30th. Finally, Wall Street Zen lowered Dover from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $224.00.

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.