Dover Corporation $DOV Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its stake in Dover Corporation (NYSE:DOV) by 7.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,551,013 shares of the industrial products company’s stock after purchasing an additional 112,981 shares during the period. Dimensional Fund Advisors LP owned about 1.13% of Dover worth $258,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vermillion & White Wealth Management Group LLC raised its holdings in Dover by 122.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 93 shares in the last quarter. Caldwell Trust Co acquired a new position in Dover during the 2nd quarter worth approximately $31,000. Westside Investment Management Inc. grew its holdings in Dover by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 114 shares in the last quarter. Davis Capital Management purchased a new stake in shares of Dover in the 3rd quarter valued at approximately $44,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Dover by 371.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 264 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reiterated a “buy” rating and set a $224.00 target price on shares of Dover in a research note on Saturday, January 31st. UBS Group set a $256.00 price target on Dover and gave the company a “buy” rating in a research note on Sunday, January 4th. Wall Street Zen raised Dover from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Wells Fargo & Company increased their price objective on Dover from $205.00 to $210.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Finally, Citigroup reissued a “buy” rating on shares of Dover in a research report on Monday, January 12th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

Insider Activity at Dover

In related news, VP Girish Juneja sold 1,500 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were 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 owned 8,422 shares in the company, valued at $1,943,544.94. This represents a 15.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard J. Tobin sold 76,997 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the transaction, the chief executive officer directly owned 217,979 shares in the company, valued at $50,723,713.30. The trade was a 26.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 82,497 shares of company stock worth $19,196,277 in the last 90 days. 1.30% of the stock is owned by insiders.

Dover Stock Down 3.3%

DOV opened at $208.51 on Friday. The stock has a market capitalization of $28.12 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 1.65 and a beta of 1.27. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79. Dover Corporation has a one year low of $143.04 and a one year high of $237.54. The business’s 50-day simple moving average is $213.98 and its 200-day simple moving average is $191.48.

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

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, February 27th. Dover’s payout ratio is presently 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.