Dover Corporation $DOV Holdings Raised by NEOS Investment Management LLC

NEOS Investment Management LLC grew its stake in shares of Dover Corporation (NYSE:DOV) by 53.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 13,741 shares of the industrial products company’s stock after acquiring an additional 4,766 shares during the period. NEOS Investment Management LLC’s holdings in Dover were worth $2,292,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. AdvisorShares Investments LLC acquired a new stake in Dover during the second quarter valued at $30,000. Vermillion & White Wealth Management Group LLC raised its stake in shares of Dover by 122.4% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 93 shares in the last quarter. Caldwell Trust Co acquired a new stake in shares of Dover during the 2nd quarter valued at about $31,000. Harbour Investments Inc. lifted its holdings in shares of Dover by 51.7% during the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after buying an additional 60 shares during the last quarter. Finally, Westside Investment Management Inc. grew its stake in shares of Dover by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company’s stock valued at $38,000 after buying an additional 114 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dover

In other news, VP Girish Juneja sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $230.77, for a total transaction of $346,155.00. Following the completion of the transaction, the vice president directly owned 8,422 shares of the company’s stock, valued at approximately $1,943,544.94. This trade represents a 15.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard J. Tobin sold 76,997 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the completion of the transaction, the chief executive officer directly owned 217,979 shares of the company’s stock, valued at $50,723,713.30. This trade represents a 26.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 86,754 shares of company stock worth $20,000,768. Corporate insiders own 1.30% of the company’s stock.

Dover Stock Up 0.3%

NYSE DOV opened at $233.12 on Friday. The firm has a 50-day simple moving average of $209.02 and a 200 day simple moving average of $188.25. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79. The stock has a market cap of $31.44 billion, a PE ratio of 29.36, a PEG ratio of 1.78 and a beta of 1.29. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $237.54.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 EPS for the quarter, topping 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%.The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $2.20 EPS. On average, research analysts forecast that Dover Corporation will post 9.45 EPS for the current year.

Dover Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on DOV shares. Oppenheimer raised their target price on Dover from $228.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, January 26th. BNP Paribas Exane initiated coverage on shares of Dover in a research report on Thursday, December 4th. They issued a “neutral” rating and a $195.00 price target on the stock. Weiss Ratings cut shares of Dover from a “buy (b)” rating to a “hold (c+)” rating in a research note on Tuesday. UBS Group set a $256.00 target price on shares of Dover and gave the stock a “buy” rating in a report on Sunday, January 4th. Finally, Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.