Dover Corporation $DOV Holdings Lifted by Citigroup Inc.

Citigroup Inc. raised its position in Dover Corporation (NYSE:DOV) by 36.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 155,251 shares of the industrial products company’s stock after purchasing an additional 41,598 shares during the quarter. Citigroup Inc. owned about 0.11% of Dover worth $25,901,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Machina Capital S.A.S. lifted its holdings in Dover by 38.8% in the 2nd quarter. Machina Capital S.A.S. now owns 8,779 shares of the industrial products company’s stock valued at $1,609,000 after acquiring an additional 2,452 shares during the last quarter. Generali Asset Management SPA SGR increased its holdings in shares of Dover by 103.4% in the third quarter. Generali Asset Management SPA SGR now owns 16,020 shares of the industrial products company’s stock valued at $2,673,000 after buying an additional 8,145 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Dover by 1,644.9% during the third quarter. SG Americas Securities LLC now owns 26,749 shares of the industrial products company’s stock worth $4,463,000 after purchasing an additional 25,216 shares during the period. Advisory Resource Group raised its holdings in Dover by 7.7% during the 2nd quarter. Advisory Resource Group now owns 28,732 shares of the industrial products company’s stock worth $5,264,000 after buying an additional 2,047 shares during the period. Finally, Federated Hermes Inc. lifted its position in shares of Dover by 17.3% in the 3rd quarter. Federated Hermes Inc. now owns 43,300 shares of the industrial products company’s stock valued at $7,224,000 after acquiring an additional 6,399 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Christopher B. Woenker sold 1,627 shares of the firm’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $186.04, for a total value 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 SEC, which is accessible through this hyperlink. Also, SVP Ivonne M. Cabrera sold 4,000 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total transaction of $932,920.00. Following the transaction, the senior vice president owned 72,188 shares of the company’s stock, valued at approximately $16,836,407.24. The trade was a 5.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 86,754 shares of company stock valued at $20,000,768. Corporate insiders own 1.30% of the company’s stock.

Dover Price Performance

NYSE DOV opened at $226.84 on Thursday. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $237.54. The company has a fifty day simple moving average of $210.90 and a 200 day simple moving average of $189.49. 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 company has a market cap of $30.59 billion, a P/E ratio of 28.57, a P/E/G ratio of 1.77 and a beta of 1.29.

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, topping analysts’ consensus estimates of $2.48 by $0.03. The firm 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 business’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.20 EPS. On average, sell-side analysts predict 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. Shareholders of record on Friday, February 27th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a yield of 0.9%. Dover’s dividend payout ratio (DPR) is 26.20%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DOV shares. Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. BNP Paribas Exane initiated coverage on shares of Dover in a research report on Thursday, December 4th. They issued a “neutral” rating and a $195.00 target price for the company. Weiss Ratings downgraded shares of Dover from a “buy (b)” rating to a “hold (c+)” rating in a report on Tuesday, February 17th. Citigroup reiterated a “buy” rating on shares of Dover in a report on Monday, January 12th. Finally, 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. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and an average target price of $224.00.

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.