Allianz Asset Management GmbH Grows Stock Position in Dover Corporation $DOV

Allianz Asset Management GmbH increased its stake in shares of Dover Corporation (NYSE:DOV) by 11.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 285,157 shares of the industrial products company’s stock after purchasing an additional 29,509 shares during the quarter. Allianz Asset Management GmbH owned 0.21% of Dover worth $47,573,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Callan Family Office LLC lifted its stake in shares of Dover by 3.4% in the 3rd quarter. Callan Family Office LLC now owns 2,247 shares of the industrial products company’s stock worth $375,000 after acquiring an additional 73 shares during the period. Mission Wealth Management LP lifted its position in Dover by 0.8% in the third quarter. Mission Wealth Management LP now owns 7,493 shares of the industrial products company’s stock valued at $1,250,000 after purchasing an additional 58 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in Dover in the 3rd quarter valued at approximately $53,000. State of Wyoming raised its stake in shares of Dover by 2,510.9% during the 3rd quarter. State of Wyoming now owns 3,107 shares of the industrial products company’s stock worth $518,000 after buying an additional 2,988 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Dover by 18.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 20,488 shares of the industrial products company’s stock valued at $3,441,000 after buying an additional 3,160 shares during the period. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Up 3.9%

Shares of NYSE:DOV opened at $219.89 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.79 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $30.16 billion, a P/E ratio of 27.69, a P/E/G ratio of 1.62 and a beta of 1.29. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $220.48. The stock’s fifty day simple moving average is $199.81 and its 200-day simple moving average is $184.46.

Dover (NYSE:DOV) last posted 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. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations 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. As a group, equities research analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on DOV shares. Oppenheimer increased their price objective on Dover from $228.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Barclays set a $206.00 price target on shares of Dover in a report on Monday. Citigroup reissued a “buy” rating on shares of Dover in a report on Monday, January 12th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $224.00 target price on shares of Dover in a report on Saturday, January 31st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Dover in a research note on Monday, December 29th. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and an average target price of $224.00.

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 transaction of $302,687.08. Following the sale, the chief financial officer owned 2,553 shares in the company, valued at approximately $474,960.12. This trade represents a 38.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Ivonne M. Cabrera sold 2,630 shares of Dover 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 sale, the senior vice president directly owned 72,968 shares of the company’s stock, valued at $13,922,294.40. The trade was a 3.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.