Magnetar Financial LLC Purchases 4,308 Shares of Dover Corporation $DOV

Magnetar Financial LLC increased its holdings in Dover Corporation (NYSE:DOV) by 10.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,904 shares of the industrial products company’s stock after purchasing an additional 4,308 shares during the period. Magnetar Financial LLC’s holdings in Dover were worth $8,228,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Dover by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock worth $3,036,722,000 after buying an additional 231,146 shares during the last quarter. Geode Capital Management LLC grew its position in Dover by 1.0% in the second quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company’s stock worth $629,996,000 after acquiring an additional 33,539 shares in the last quarter. Nuveen LLC purchased a new position in Dover in the first quarter worth about $526,081,000. Invesco Ltd. raised its position in Dover by 7.9% during the first quarter. Invesco Ltd. now owns 1,272,690 shares of the industrial products company’s stock valued at $223,586,000 after purchasing an additional 93,483 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Dover by 2.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 983,375 shares of the industrial products company’s stock valued at $172,759,000 after purchasing an additional 19,387 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Trading Up 3.1%

DOV stock opened at $183.59 on Friday. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $222.31. The firm’s 50-day moving average is $173.02 and its 200 day moving average is $178.06. The company has a market capitalization of $25.18 billion, a PE ratio of 11.29, a P/E/G ratio of 1.40 and a beta of 1.29. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44.

Dover (NYSE:DOV) last issued its earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. The business had revenue of $1.78 billion for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. On average, research analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, November 28th. Dover’s dividend payout ratio (DPR) is presently 12.79%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. Robert W. Baird set a $235.00 price objective on shares of Dover in a research report on Friday, October 24th. Wall Street Zen downgraded shares of Dover from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Royal Bank Of Canada lifted their price target on shares of Dover from $183.00 to $198.00 and gave the stock a “sector perform” rating in a research note on Friday, October 24th. Finally, Barclays increased their price objective on shares of Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a research report on Friday, October 24th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Dover has an average rating of “Moderate Buy” and a consensus target price of $212.27.

Dover Company Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.