Dover Corporation $DOV Position Raised by iSAM Funds UK Ltd

iSAM Funds UK Ltd raised its position in shares of Dover Corporation (NYSE:DOV) by 121.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,933 shares of the industrial products company’s stock after purchasing an additional 8,183 shares during the quarter. Dover comprises 0.6% of iSAM Funds UK Ltd’s portfolio, making the stock its 25th largest holding. iSAM Funds UK Ltd’s holdings in Dover were worth $2,736,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Dover by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock valued at $3,036,722,000 after acquiring an additional 231,146 shares during the last quarter. State Street Corp grew its position in Dover by 2.7% in the second quarter. State Street Corp now owns 6,447,149 shares of the industrial products company’s stock worth $1,181,311,000 after buying an additional 171,934 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of 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 acquiring an additional 33,539 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Dover during the 1st quarter valued at $526,081,000. Finally, First Trust Advisors LP boosted its stake in shares of Dover by 717.4% during the 2nd quarter. First Trust Advisors LP now owns 1,716,256 shares of the industrial products company’s stock worth $314,470,000 after acquiring an additional 1,506,288 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on DOV shares. BNP Paribas began coverage on Dover in a research report on Thursday. They set a “neutral” rating and a $195.00 target price on the stock. Wells Fargo & Company boosted their price objective on Dover from $180.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, October 24th. Barclays raised their target price on shares of Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a report on Friday, October 24th. Royal Bank Of Canada boosted their price target on shares of Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a report on Friday, October 24th. Finally, Morgan Stanley upped their price target on shares of Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $210.83.

Dover Price Performance

NYSE DOV opened at $191.25 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44. The firm has a market capitalization of $26.23 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The company has a 50 day simple moving average of $176.94 and a 200-day simple moving average of $178.57. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $222.31.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. The firm had revenue of $1.78 billion for the quarter. Equities research analysts predict that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, November 28th. Dover’s dividend payout ratio (DPR) is currently 12.79%.

Insiders Place Their Bets

In related news, SVP Ivonne M. Cabrera sold 2,630 shares of Dover stock in a transaction 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 owned 72,968 shares of the company’s stock, valued at approximately $13,922,294.40. This trade represents a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christopher B. Woenker sold 1,627 shares of the company’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $186.04, for a total value of $302,687.08. Following the completion of the transaction, the chief financial officer directly owned 2,553 shares in the company, valued at approximately $474,960.12. The trade was a 38.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.20% of the stock is currently owned by company insiders.

Dover Company Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.