Y.D. More Investments Ltd Purchases Shares of 4,796 Dover Corporation $DOV

Y.D. More Investments Ltd purchased a new stake in shares of Dover Corporation (NYSE:DOV) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,796 shares of the industrial products company’s stock, valued at approximately $936,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC increased its holdings in Dover by 912.9% during the second quarter. AQR Capital Management LLC now owns 789,409 shares of the industrial products company’s stock valued at $144,572,000 after buying an additional 711,471 shares during the last quarter. Qube Research & Technologies Ltd raised its position in Dover by 65.2% in the third quarter. Qube Research & Technologies Ltd now owns 1,317,787 shares of the industrial products company’s stock worth $219,846,000 after acquiring an additional 520,211 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Dover by 133.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 656,349 shares of the industrial products company’s stock worth $109,499,000 after acquiring an additional 375,333 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Dover by 16.1% during the 3rd quarter. Wellington Management Group LLP now owns 2,130,657 shares of the industrial products company’s stock valued at $355,458,000 after acquiring an additional 294,856 shares during the period. Finally, Voloridge Investment Management LLC grew its position in shares of Dover by 667.2% during the 3rd quarter. Voloridge Investment Management LLC now owns 327,155 shares of the industrial products company’s stock valued at $54,579,000 after acquiring an additional 284,514 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insiders Place Their Bets

In other Dover news, CEO Richard J. Tobin sold 76,997 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the completion of the sale, 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. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Ivonne M. Cabrera sold 4,000 shares of Dover stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total transaction of $932,920.00. Following the sale, the senior vice president owned 72,188 shares in the company, valued at approximately $16,836,407.24. The trade was a 5.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 82,497 shares of company stock worth $19,196,277 in the last three months. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DOV. Royal Bank Of Canada raised their target price on Dover from $199.00 to $209.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. JPMorgan Chase & Co. boosted their price target on Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Wells Fargo & Company raised Dover from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $210.00 to $230.00 in a research note on Tuesday, March 17th. Oppenheimer lifted their price objective on Dover from $228.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. Finally, BMO Capital Markets initiated coverage on Dover in a research note on Friday, March 27th. They set a “market perform” rating and a $237.00 price objective for the company. Nine equities 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $226.54.

Dover Trading Up 0.9%

Shares of Dover stock opened at $207.32 on Tuesday. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week high of $237.54. 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 company has a market capitalization of $27.95 billion, a P/E ratio of 26.11, a P/E/G ratio of 1.58 and a beta of 1.25. The company has a fifty day moving average of $216.62 and a 200 day moving average of $196.36.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Dover had a return on equity of 17.87% and a net margin of 13.52%.The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm earned $2.20 earnings per share. On average, sell-side analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. Dover’s payout ratio is currently 26.20%.

Dover Company 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.