Geneos Wealth Management Inc. Buys 15,600 Shares of Dover Corporation $DOV

Geneos Wealth Management Inc. raised its stake in Dover Corporation (NYSE:DOV) by 64.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,921 shares of the industrial products company’s stock after acquiring an additional 15,600 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Dover were worth $7,315,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of DOV. First Trust Advisors LP grew its holdings in Dover by 717.4% during the second quarter. First Trust Advisors LP now owns 1,716,256 shares of the industrial products company’s stock valued at $314,470,000 after purchasing an additional 1,506,288 shares during the period. Norges Bank purchased a new position in shares of Dover during the 2nd quarter valued at $274,135,000. AQR Capital Management LLC grew its stake in shares of Dover by 912.9% during the 2nd quarter. AQR Capital Management LLC now owns 789,409 shares of the industrial products company’s stock worth $144,572,000 after acquiring an additional 711,471 shares during the period. Hsbc Holdings PLC increased its holdings in Dover by 46.8% in the 2nd quarter. Hsbc Holdings PLC now owns 901,460 shares of the industrial products company’s stock worth $165,158,000 after acquiring an additional 287,362 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Dover by 21.7% in the 2nd quarter. Invesco Ltd. now owns 1,549,453 shares of the industrial products company’s stock valued at $283,906,000 after acquiring an additional 276,763 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Activity at Dover

In related news, CFO Christopher B. Woenker sold 1,627 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $186.04, for a total value of $302,687.08. Following the sale, the chief financial officer directly owned 2,553 shares of the company’s stock, valued at $474,960.12. This trade represents a 38.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $190.80, for a total transaction of $501,804.00. Following the completion of the transaction, the senior vice president directly owned 72,968 shares of the company’s stock, valued at approximately $13,922,294.40. This represents a 3.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.20% of the stock is currently owned by corporate insiders.

Dover Stock Down 1.0%

DOV opened at $199.18 on Monday. The firm has a market capitalization of $27.32 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 1.55 and a beta of 1.31. Dover Corporation has a one year low of $143.04 and a one year high of $222.31. The company has a fifty day moving average price of $179.34 and a 200-day moving average price of $179.06. 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 quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%.The company had revenue of $1.78 billion for the quarter. Equities research analysts expect that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is 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%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DOV. UBS Group set a $200.00 target price on shares of Dover in a research report on Friday, October 24th. Wells Fargo & Company raised their price objective on shares of Dover from $180.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, October 24th. Morgan Stanley boosted their target price on shares of Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, BNP Paribas assumed coverage on Dover in a research report on Thursday, December 4th. They issued a “neutral” rating and a $195.00 price target for the company. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $209.73.

About Dover

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.