Dover Corporation $DOV Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its position in Dover Corporation (NYSE:DOV) by 91.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,410 shares of the industrial products company’s stock after selling 600,939 shares during the period. Assenagon Asset Management S.A.’s holdings in Dover were worth $10,818,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. First Trust Advisors LP grew its position in Dover by 717.4% in the second quarter. First Trust Advisors LP now owns 1,716,256 shares of the industrial products company’s stock worth $314,470,000 after buying an additional 1,506,288 shares during the last quarter. Norges Bank acquired a new position in shares of Dover in the 2nd quarter valued at $274,135,000. AQR Capital Management LLC increased its stake in Dover by 912.9% in the 2nd quarter. AQR Capital Management LLC now owns 789,409 shares of the industrial products company’s stock worth $144,572,000 after purchasing an additional 711,471 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in Dover by 65.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,317,787 shares of the industrial products company’s stock worth $219,846,000 after purchasing an additional 520,211 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Dover by 16.1% in 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 in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Oppenheimer lifted their target price on Dover from $228.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Weiss Ratings upgraded shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 6th. Citigroup reaffirmed a “buy” rating on shares of Dover in a research report on Monday, January 12th. Royal Bank Of Canada increased their target price on shares of Dover from $199.00 to $209.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Finally, BMO Capital Markets started coverage on Dover in a research note on Friday. They set a “market perform” rating and a $237.00 price target for the company. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $226.54.

Insiders Place Their Bets

In other Dover news, SVP Ivonne M. Cabrera sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total transaction of $932,920.00. Following the completion of the transaction, the senior vice president owned 72,188 shares in the company, valued at $16,836,407.24. This trade represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard J. Tobin sold 76,997 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 217,979 shares in the company, valued at approximately $50,723,713.30. This represents a 26.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 82,497 shares of company stock worth $19,196,277 over the last quarter. Company insiders own 1.30% of the company’s stock.

Dover Price Performance

NYSE:DOV opened at $206.78 on Friday. The company has a fifty day moving average price of $216.71 and a 200 day moving average price of $194.71. The stock has a market cap of $27.87 billion, a P/E ratio of 26.04, a PEG ratio of 1.61 and a beta of 1.27. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28. Dover Corporation has a one year low of $143.04 and a one year high of $237.54.

Dover (NYSE:DOV) last released its earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.03. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Dover had a net margin of 13.52% and a return on equity of 17.87%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $2.20 earnings per share. Analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current 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 given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, February 27th. Dover’s dividend payout ratio is 26.20%.

Dover 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.