OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Invests $11.20 Million in Dover Corporation $DOV

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Dover Corporation (NYSE:DOV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 61,100 shares of the industrial products company’s stock, valued at approximately $11,195,000. Dover comprises about 0.6% of OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s investment portfolio, making the stock its 22nd largest holding.

A number of other hedge funds have also recently modified their holdings of DOV. Legacy Financial Advisors Inc. increased its stake in Dover by 1.4% in the 1st quarter. Legacy Financial Advisors Inc. now owns 4,134 shares of the industrial products company’s stock worth $726,000 after buying an additional 57 shares during the period. Summit Financial LLC boosted its position in Dover by 0.9% in the 1st quarter. Summit Financial LLC now owns 6,599 shares of the industrial products company’s stock valued at $1,159,000 after buying an additional 60 shares during the period. Harbour Investments Inc. increased its position in shares of Dover by 51.7% during the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 60 shares during the period. Kornitzer Capital Management Inc. KS increased its holdings in Dover by 0.9% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 6,911 shares of the industrial products company’s stock worth $1,266,000 after purchasing an additional 60 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC raised its position in Dover by 4.9% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,282 shares of the industrial products company’s stock valued at $235,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Insider Buying and Selling

In other news, CFO Christopher B. Woenker sold 1,627 shares of the business’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $186.04, for a total transaction of $302,687.08. Following the transaction, the chief financial officer owned 2,553 shares of the company’s stock, valued at approximately $474,960.12. The trade was a 38.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were 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 directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.30% of the company’s stock.

Dover Price Performance

Shares of NYSE:DOV opened at $195.48 on Thursday. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $222.31. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. The company has a market cap of $26.81 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.48 and a beta of 1.31. The company’s 50 day moving average is $177.99 and its 200 day moving average is $178.77.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%.The business had revenue of $1.78 billion for the quarter. On average, sell-side analysts forecast that Dover Corporation will post 9.45 EPS for the current year.

Dover Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DOV shares. Morgan Stanley raised their price target on Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. BNP Paribas started coverage on shares of Dover in a research note on Thursday, December 4th. They issued a “neutral” rating and a $195.00 price objective for the company. Wells Fargo & Company increased their target price on Dover from $180.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, October 24th. JPMorgan Chase & Co. upped their price objective on Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings upgraded Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and an average price target of $210.83.

About Dover

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.