14,335 Shares of Dover Corporation $DOV Acquired by Machina Capital S.A.S.

Machina Capital S.A.S. acquired a new stake in Dover Corporation (NYSE:DOV) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 14,335 shares of the industrial products company’s stock, valued at approximately $2,681,000.

Other large investors have also recently added to or reduced their stakes in the company. Callan Family Office LLC acquired a new stake in shares of Dover in the second quarter valued at approximately $702,000. Concurrent Investment Advisors LLC increased its stake in shares of Dover by 239.5% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 14,204 shares of the industrial products company’s stock worth $3,186,000 after purchasing an additional 10,020 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Dover by 244.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 720,866 shares of the industrial products company’s stock worth $134,696,000 after purchasing an additional 511,661 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Dover by 5.0% during the 2nd quarter. Hsbc Holdings PLC now owns 941,695 shares of the industrial products company’s stock worth $211,269,000 after purchasing an additional 44,854 shares in the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Dover by 1,356.0% during the 2nd quarter. Squarepoint Ops LLC now owns 25,989 shares of the industrial products company’s stock worth $5,829,000 after purchasing an additional 24,204 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Price Performance

NYSE:DOV opened at $212.38 on Thursday. Dover Corporation has a 12-month low of $177.87 and a 12-month high of $237.54. The firm has a market cap of $28.25 billion, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 1.82 and a beta of 1.10. The company’s 50-day moving average is $195.73 and its two-hundred day moving average is $209.77. The company has a current ratio of 1.95, a quick ratio of 1.37 and a debt-to-equity ratio of 0.34.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, October 22nd. The industrial products company reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.03. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.22 billion. Dover had a net margin of 13.60% and a return on equity of 18.68%. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.62 earnings per share. Research analysts expect that Dover Corporation will post 10.73 EPS for the current year.

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a dividend of $0.5250 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $2.10 annualized dividend and a dividend yield of 1.0%. Dover’s dividend payout ratio is presently 24.48%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DOV. BMO Capital Markets raised Dover from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $255.00 to $240.00 in a research note on Friday, July 24th. Citigroup increased their target price on Dover from $266.00 to $268.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Robert W. Baird set a $258.00 price target on Dover in a research report on Friday, October 23rd. Wells Fargo & Company boosted their price target on Dover from $229.00 to $233.00 and gave the stock an “overweight” rating in a report on Friday, October 23rd. Finally, Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $238.60.

Insider Transactions at Dover

In related news, CEO Richard Tobin sold 86,440 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $214.86, for a total transaction of $18,572,498.40. Following the sale, the chief executive officer owned 212,855 shares in the company, valued at approximately $45,734,025.30. This trade represents a 28.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

Dover Profile

Dover Corporation is a diversified manufacturer of equipment and components for industrial and commercial markets. Founded in 1955, the company has grown through a combination of product development and acquisitions and serves customers around the world. Dover’s businesses operate across areas including engineered products, clean energy and fueling, imaging and identification, pumps and process solutions, and climate and sustainability technologies. Its products include fueling and vehicle-service equipment, pumps and fluid-handling systems, packaging and marking equipment, and components used in industrial and commercial applications.