Y Intercept Hong Kong Ltd Acquires 71,307 Shares of Dover Corporation $DOV

Y Intercept Hong Kong Ltd increased its holdings in shares of Dover Corporation (NYSE:DOV) by 405.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 88,907 shares of the industrial products company’s stock after purchasing an additional 71,307 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Dover were worth $14,832,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of DOV. Harbour Investments Inc. boosted its holdings in shares of Dover by 51.7% in the second 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 period. Kornitzer Capital Management Inc. KS increased its holdings in Dover by 0.9% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 6,911 shares of the industrial products company’s stock worth $1,266,000 after purchasing an additional 60 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its stake in shares of Dover by 4.9% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,282 shares of the industrial products company’s stock valued at $235,000 after purchasing an additional 60 shares during the period. Certuity LLC lifted its holdings in shares of Dover by 2.5% in the second quarter. Certuity LLC now owns 2,587 shares of the industrial products company’s stock valued at $474,000 after purchasing an additional 64 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its holdings in shares of Dover by 4.4% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 1,517 shares of the industrial products company’s stock worth $253,000 after buying an additional 64 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

DOV has been the subject of a number of recent research reports. Robert W. Baird set a $235.00 price objective on shares of Dover in a research note on Friday, October 24th. Wells Fargo & Company increased their price target on shares of Dover from $200.00 to $205.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Barclays boosted their price objective on shares of Dover from $195.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 7th. Citigroup restated a “buy” rating on shares of Dover in a research note on Monday, January 12th. Finally, BNP Paribas Exane started coverage on shares of Dover in a report on Thursday, December 4th. They set a “neutral” rating and a $195.00 target price for the company. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Dover has an average rating of “Moderate Buy” and an average price target of $218.09.

Dover Price Performance

Dover stock opened at $206.81 on Friday. The firm has a market cap of $28.36 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 1.46 and a beta of 1.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44. The stock’s fifty day moving average price is $195.68 and its two-hundred day moving average price is $183.43. Dover Corporation has a one year low of $143.04 and a one year high of $222.31.

Dover (NYSE:DOV) last released its earnings results on Thursday, October 23rd. The industrial products company reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.12. Dover had a return on equity of 17.62% and a net margin of 28.37%.The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the company posted $2.27 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, research analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Friday, November 28th were given a $0.52 dividend. The ex-dividend date was Friday, November 28th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. Dover’s payout ratio is presently 12.79%.

Insider Buying and Selling

In other Dover news, CFO Christopher B. Woenker sold 1,627 shares of the company’s stock in a transaction on Friday, November 28th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the firm’s 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 directly owned 72,968 shares in the company, valued at approximately $13,922,294.40. This represents a 3.48% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.30% of the company’s stock.

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.