Elevatus Welath Management Invests $1.84 Million in Dover Corporation $DOV

Elevatus Welath Management acquired a new position in Dover Corporation (NYSE:DOV) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,442 shares of the industrial products company’s stock, valued at approximately $1,843,000.

Other hedge funds also recently bought and sold shares of the company. Financial Life Planners bought a new position in Dover in the third quarter valued at about $25,000. Tompkins Financial Corp grew its stake in shares of Dover by 102.7% during the 4th quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 77 shares during the period. Caldwell Trust Co purchased a new stake in shares of Dover during the 2nd quarter valued at about $31,000. Westside Investment Management Inc. increased its position in shares of Dover by 100.0% during 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 during the last quarter. Finally, Davis Capital Management bought a new position in shares of Dover in the 3rd quarter worth approximately $44,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Price Performance

NYSE DOV opened at $206.78 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $237.54. The stock has a market cap of $27.87 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 1.61 and a beta of 1.27. The company’s 50 day moving average is $216.71 and its two-hundred day moving average is $194.71.

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

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $2.08 annualized dividend and a yield of 1.0%. Dover’s dividend payout ratio is currently 26.20%.

Insiders Place Their Bets

In other Dover news, CEO Richard J. Tobin sold 76,997 shares of the stock in a transaction on Thursday, February 19th. The stock was 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Ivonne M. Cabrera sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total value 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. The trade was a 5.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 82,497 shares of company stock worth $19,196,277. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on DOV shares. Weiss Ratings upgraded shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 6th. Royal Bank Of Canada increased their price target 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. UBS Group set a $256.00 price target on shares of Dover and gave the stock a “buy” rating in a research note on Sunday, January 4th. Robert W. Baird set a $255.00 price objective on shares of Dover in a research report on Friday, January 30th. Finally, Barclays set a $206.00 target price on Dover in a report on Monday, February 2nd. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $226.54.

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.