Candriam S.C.A. Boosts Position in Dover Corporation $DOV

Candriam S.C.A. grew its holdings in shares of Dover Corporation (NYSE:DOV) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,127 shares of the industrial products company’s stock after buying an additional 2,740 shares during the quarter. Candriam S.C.A.’s holdings in Dover were worth $8,363,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. AdvisorShares Investments LLC purchased a new stake in Dover during the 2nd quarter worth $30,000. Vermillion & White Wealth Management Group LLC lifted its stake in shares of Dover by 122.4% during the second 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 purchased a new stake in shares of Dover in the second quarter worth about $31,000. Harbour Investments Inc. grew its stake in shares of Dover by 51.7% in the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after buying an additional 60 shares in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Dover during the 2nd quarter valued at about $37,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup reaffirmed a “buy” rating on shares of Dover in a research report on Monday, January 12th. Morgan Stanley set a $210.00 target price on shares of Dover in a research note on Wednesday, February 4th. Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Oppenheimer raised their target price on Dover from $228.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, Robert W. Baird set a $255.00 price target on Dover in a research note on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $224.00.

Insider Buying and Selling at Dover

In other Dover news, CFO Christopher B. Woenker sold 1,627 shares of the stock in a transaction 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 directly owned 2,553 shares of the company’s stock, valued at approximately $474,960.12. This represents a 38.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president owned 72,968 shares in the company, valued at approximately $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. 1.20% of the stock is owned by insiders.

Dover Trading Up 2.0%

Shares of NYSE DOV opened at $229.47 on Wednesday. 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 stock’s 50 day moving average price is $202.84 and its two-hundred day moving average price is $185.45. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $230.36. The stock has a market capitalization of $31.47 billion, a P/E ratio of 28.90, a PEG ratio of 1.73 and a beta of 1.29.

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

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.