Banco Santander S.A. Takes Position in Dover Corporation $DOV

Banco Santander S.A. acquired a new position in shares of Dover Corporation (NYSE:DOV) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 51,560 shares of the industrial products company’s stock, valued at approximately $8,602,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AdvisorShares Investments LLC acquired a new position in shares of Dover in the second quarter worth $30,000. Vermillion & White Wealth Management Group LLC raised its stake in Dover by 122.4% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 93 shares during the last quarter. Caldwell Trust Co purchased a new position in Dover in the 2nd quarter valued at about $31,000. Westside Investment Management Inc. lifted its holdings in 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 purchasing an additional 114 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Dover by 371.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 264 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DOV. The Goldman Sachs Group reissued a “buy” rating and set a $224.00 price objective on shares of Dover in a research note on Saturday, January 31st. JPMorgan Chase & Co. increased their price target on Dover from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Morgan Stanley set a $210.00 price objective on Dover in a research report on Wednesday, February 4th. Wall Street Zen upgraded Dover from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Robert W. Baird set a $255.00 price target on Dover in a report on Friday, January 30th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

Dover Price Performance

Shares of Dover stock opened at $225.32 on Friday. The business’s fifty day moving average price is $212.11 and its 200 day moving average price is $190.10. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $237.54. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $30.39 billion, a P/E ratio of 28.38, a PEG ratio of 1.74 and a beta of 1.29.

Dover (NYSE:DOV) last released 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. Dover had a return on equity of 17.87% and a net margin of 13.52%.The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the business posted $2.20 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, research analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

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

Insider Transactions at Dover

In related news, VP Girish Juneja sold 1,500 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total value of $346,155.00. Following the completion of the sale, the vice president directly owned 8,422 shares in the company, valued at approximately $1,943,544.94. This represents a 15.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard J. Tobin sold 76,997 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $232.70, for a total value of $17,917,201.90. Following the completion of the transaction, the chief executive officer directly owned 217,979 shares in the company, valued at $50,723,713.30. This trade represents a 26.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 85,127 shares of company stock valued at $19,698,081 over the last 90 days. 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.