Dover Corporation $DOV Shares Acquired by NEOS Investment Management LLC

NEOS Investment Management LLC boosted its position in Dover Corporation (NYSE:DOV) by 53.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,741 shares of the industrial products company’s stock after buying an additional 4,766 shares during the quarter. NEOS Investment Management LLC’s holdings in Dover were worth $2,292,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. AdvisorShares Investments LLC bought a new position in Dover during the 2nd quarter valued at $30,000. Vermillion & White Wealth Management Group LLC grew its stake in Dover by 122.4% in 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 bought a new stake in Dover in the second quarter valued at about $31,000. Harbour Investments Inc. raised its stake in Dover by 51.7% during 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, Westside Investment Management Inc. raised 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 valued at $38,000 after buying an additional 114 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Buying and Selling

In other Dover news, CEO Richard J. Tobin sold 76,997 shares of the business’s stock in a transaction dated 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 owned 217,979 shares in the company, valued at approximately $50,723,713.30. The trade was a 26.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ivonne M. Cabrera sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total transaction of $932,920.00. Following the completion of 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 three months, insiders sold 86,754 shares of company stock valued at $20,000,768. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DOV shares. Weiss Ratings cut shares of Dover from a “buy (b)” rating to a “hold (c+)” rating in a report on Tuesday. Royal Bank Of Canada upped their target price on Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. UBS Group set a $256.00 price target on Dover and gave the stock a “buy” rating in a report on Sunday, January 4th. Citigroup reaffirmed a “buy” rating on shares of Dover in a research report on Monday, January 12th. Finally, Robert W. Baird set a $255.00 target price on shares of Dover in a research report on Friday, January 30th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $224.00.

Dover Stock Performance

Shares of NYSE DOV opened at $233.12 on Friday. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $237.54. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79. The stock has a fifty day moving average price of $209.02 and a two-hundred day moving average price of $188.25. The firm has a market cap of $31.44 billion, a P/E ratio of 29.36, a PEG ratio of 1.78 and a beta of 1.29.

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

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. Dover’s payout ratio is 26.20%.

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.