Dover Corporation $DOV Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC decreased its holdings in Dover Corporation (NYSE:DOV) by 54.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,318 shares of the industrial products company’s stock after selling 24,586 shares during the quarter. Magnetar Financial LLC’s holdings in Dover were worth $3,390,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of DOV. Vermillion & White Wealth Management Group LLC raised 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 valued at $31,000 after purchasing an additional 93 shares in the last quarter. Caldwell Trust Co bought a new position in Dover in the 2nd quarter valued at about $31,000. Westside Investment Management Inc. increased its stake in Dover by 100.0% during the 3rd 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 during the period. Davis Capital Management bought a new stake in shares of Dover during the 3rd quarter worth about $44,000. Finally, Cornerstone Planning Group LLC raised its position in shares of Dover by 371.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 264 shares of the industrial products company’s stock worth $44,000 after buying an additional 208 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DOV has been the subject of several recent analyst reports. Citigroup reiterated a “buy” rating on shares of Dover in a report on Monday, January 12th. BNP Paribas Exane began coverage on Dover in a report on Thursday, December 4th. They set a “neutral” rating and a $195.00 target price on the stock. The Goldman Sachs Group restated a “buy” rating and issued a $224.00 target price on shares of Dover in a research report on Saturday, January 31st. JPMorgan Chase & Co. lifted their price target on Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Finally, Weiss Ratings raised Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 6th. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Dover has an average rating of “Moderate Buy” and a consensus target price of $224.00.

Dover Stock Up 0.0%

Shares of Dover stock opened at $210.27 on Thursday. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $237.54. The firm has a market capitalization of $28.36 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 1.61 and a beta of 1.27. 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 fifty day moving average is $214.77 and its 200-day moving average is $192.21.

Dover (NYSE:DOV) last released 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 analyst estimates of $2.09 billion. Dover had a return on equity of 17.87% and a net margin of 13.52%.Dover’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the company posted $2.20 EPS. Equities analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The company 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 $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, February 27th. Dover’s dividend payout ratio (DPR) is 26.20%.

Insider Transactions at Dover

In related news, SVP Ivonne M. Cabrera sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total value 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. This trade represents a 5.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Girish Juneja sold 1,500 shares of Dover stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total transaction of $346,155.00. Following the transaction, the vice president owned 8,422 shares in the company, valued at approximately $1,943,544.94. The trade was a 15.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 82,497 shares of company stock valued at $19,196,277 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

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.