Andra AP fonden Buys Shares of 37,700 Dover Corporation $DOV

Andra AP fonden purchased a new position in Dover Corporation (NYSE:DOV) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 37,700 shares of the industrial products company’s stock, valued at approximately $6,289,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Dover by 1.4% in the second quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock worth $3,036,722,000 after acquiring an additional 231,146 shares during the last quarter. State Street Corp lifted its holdings in shares of Dover by 2.7% in the 2nd quarter. State Street Corp now owns 6,447,149 shares of the industrial products company’s stock worth $1,181,311,000 after purchasing an additional 171,934 shares during the last quarter. Geode Capital Management LLC boosted its position in Dover by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company’s stock valued at $629,996,000 after purchasing an additional 33,539 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in Dover by 10.6% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,376,279 shares of the industrial products company’s stock worth $435,406,000 after buying an additional 227,653 shares during the last quarter. Finally, First Trust Advisors LP increased 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 period. Institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

DOV has been the subject of several analyst reports. UBS Group set a $256.00 price target on shares of Dover and gave the company a “buy” rating in a report on Sunday, January 4th. Weiss Ratings downgraded shares of Dover from a “buy (b)” rating to a “hold (c+)” rating in a research report on Tuesday, February 17th. Morgan Stanley set a $210.00 target price on shares of Dover in a research report on Wednesday, February 4th. Citigroup reaffirmed a “buy” rating on shares of Dover in a report on Monday, January 12th. Finally, Wall Street Zen raised Dover from a “hold” rating to a “buy” rating in a report on Saturday. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $224.00.

Dover Trading Down 0.8%

Dover stock opened at $225.32 on Friday. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $237.54. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28. The stock has a market capitalization of $30.39 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 1.73 and a beta of 1.29. The firm has a 50 day simple moving average of $212.11 and a 200-day simple moving average of $190.18.

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

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a $0.52 dividend. The ex-dividend date is Friday, February 27th. This represents a $2.08 annualized dividend and a yield of 0.9%. Dover’s payout ratio is 26.20%.

Insider Buying and Selling at Dover

In other news, CEO Richard J. Tobin sold 76,997 shares of Dover 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 transaction, the chief executive officer owned 217,979 shares of the company’s stock, valued at $50,723,713.30. The trade was a 26.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Ivonne M. Cabrera sold 4,000 shares of the stock in a transaction that occurred 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 sale, the senior vice president directly owned 72,188 shares of the company’s stock, valued at approximately $16,836,407.24. This represents a 5.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 85,127 shares of company stock valued at $19,698,081. 1.30% of the stock is owned by insiders.

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.