Machina Capital S.A.S. Buys 14,335 Shares of Dover Corporation $DOV

Machina Capital S.A.S. bought a new stake in Dover Corporation (NYSE:DOV) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 14,335 shares of the industrial products company’s stock, valued at approximately $2,681,000.

A number of other institutional investors and hedge funds have also made changes to their positions in DOV. William Mack & Associates Inc. acquired a new stake in Dover in the third quarter valued at about $29,000. Clearstead Trust LLC acquired a new position in Dover during the 2nd quarter worth approximately $30,000. Keating Financial Advisory Services Inc. acquired a new position in Dover during the 2nd quarter worth approximately $34,000. Kelleher Financial Advisors acquired a new position in Dover during the 2nd quarter worth approximately $38,000. Finally, Quest 10 Wealth Builders Inc. raised its stake in shares of Dover by 105.1% during the 3rd quarter. Quest 10 Wealth Builders Inc. now owns 203 shares of the industrial products company’s stock worth $38,000 after buying an additional 104 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Up 0.2%

Shares of NYSE DOV opened at $212.38 on Thursday. The stock has a market capitalization of $28.25 billion, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 1.82 and a beta of 1.10. Dover Corporation has a 52 week low of $177.87 and a 52 week high of $237.54. The firm has a 50-day moving average price of $195.73 and a 200 day moving average price of $209.77. The company has a quick ratio of 1.37, a current ratio of 1.95 and a debt-to-equity ratio of 0.34.

Dover (NYSE:DOV) last issued its earnings results on Thursday, October 22nd. The industrial products company reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.03. Dover had a net margin of 13.60% and a return on equity of 18.68%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the business posted $2.62 earnings per share. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. Equities research analysts anticipate that Dover Corporation will post 10.73 EPS for the current fiscal year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a $0.5250 dividend. The ex-dividend date is Monday, November 30th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.0%. Dover’s dividend payout ratio is currently 24.48%.

Analyst Ratings Changes

Several research firms have recently commented on DOV. Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Wells Fargo & Company lifted their price target on Dover from $229.00 to $233.00 and gave the company an “overweight” rating in a research note on Friday, October 23rd. Citigroup upped their price objective on Dover from $266.00 to $268.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. BMO Capital Markets raised Dover from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $255.00 to $240.00 in a report on Friday, July 24th. Finally, Robert W. Baird set a $258.00 price objective on Dover in a research report on Friday, October 23rd. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $238.60.

Insider Buying and Selling at Dover

In related news, CEO Richard Tobin sold 86,440 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $214.86, for a total value of $18,572,498.40. Following the completion of the transaction, the chief executive officer directly owned 212,855 shares of the company’s stock, valued at $45,734,025.30. This trade represents a 28.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

About Dover

Dover Corporation is a diversified manufacturer of equipment and components for industrial and commercial markets. Founded in 1955, the company has grown through a combination of product development and acquisitions and serves customers around the world. Dover’s businesses operate across areas including engineered products, clean energy and fueling, imaging and identification, pumps and process solutions, and climate and sustainability technologies. Its products include fueling and vehicle-service equipment, pumps and fluid-handling systems, packaging and marking equipment, and components used in industrial and commercial applications.