Quantbot Technologies LP Makes New $4.09 Million Investment in Dover Corporation $DOV

Quantbot Technologies LP acquired a new stake in shares of Dover Corporation (NYSE:DOV) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 24,497 shares of the industrial products company’s stock, valued at approximately $4,087,000.

Other large investors have also made changes to their positions in the company. Vermillion & White Wealth Management Group LLC increased its position in shares of Dover by 122.4% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 93 shares in the last quarter. Caldwell Trust Co acquired a new position in Dover in the second quarter valued at about $31,000. Westside Investment Management Inc. grew its stake in Dover by 100.0% during the third quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company’s stock worth $38,000 after buying an additional 114 shares during the last quarter. Davis Capital Management acquired a new stake in shares of Dover during the third quarter worth approximately $44,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of Dover by 371.4% in the third quarter. Cornerstone Planning Group LLC now owns 264 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 208 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Trading Down 0.8%

Shares of DOV opened at $225.32 on Monday. The stock’s fifty day simple moving average is $212.11 and its 200-day simple moving average is $190.24. The firm 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 1.26. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $237.54. The company has a quick ratio of 1.28, a current ratio of 1.79 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last announced 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. 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 earned $2.20 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. As a group, research analysts predict that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

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

Insider Activity at Dover

In other Dover news, VP Girish Juneja sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $230.77, for a total value of $346,155.00. Following the transaction, the vice president directly owned 8,422 shares of the company’s stock, valued at approximately $1,943,544.94. This trade represents a 15.12% 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 the SEC website. Also, CEO Richard J. Tobin sold 76,997 shares of Dover stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the sale, the chief executive officer directly owned 217,979 shares of the company’s stock, valued at $50,723,713.30. This represents a 26.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 85,127 shares of company stock worth $19,698,081 over the last ninety days. Company insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

DOV has been the topic of a number of research analyst reports. Weiss Ratings lowered 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 Dover in a report on Wednesday, February 4th. Oppenheimer lifted their price target on Dover from $228.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Wells Fargo & Company upped their price target on shares of Dover from $205.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $224.00 price objective on shares of Dover in a research report on Saturday, January 31st. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Dover has an average rating of “Moderate Buy” and a consensus 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.