Raiffeisen Bank International AG Buys 2,827 Shares of Dover Corporation $DOV

Raiffeisen Bank International AG lifted its position in Dover Corporation (NYSE:DOV) by 32.0% in the third quarter, Holdings Channel reports. The firm owned 11,671 shares of the industrial products company’s stock after buying an additional 2,827 shares during the period. Raiffeisen Bank International AG’s holdings in Dover were worth $1,945,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DOV. AdvisorShares Investments LLC bought a new stake in Dover during the 2nd quarter valued at $30,000. Vermillion & White Wealth Management Group LLC grew its position in shares of Dover by 122.4% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock worth $31,000 after buying an additional 93 shares in the last quarter. Caldwell Trust Co bought a new stake in shares of Dover in the second quarter valued at about $31,000. Harbour Investments Inc. lifted its stake in Dover by 51.7% in 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. Finally, Westside Investment Management Inc. grew its holdings in Dover by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 114 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on DOV shares. Barclays set a $206.00 price target on shares of Dover in a report on Monday, February 2nd. Oppenheimer lifted their price objective on shares of Dover from $228.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Citigroup reissued a “buy” rating on shares of Dover in a research note on Monday, January 12th. UBS Group set a $256.00 target price on Dover and gave the company a “buy” rating in a research report on Sunday, January 4th. Finally, Morgan Stanley set a $210.00 price target on Dover in a report on Wednesday, February 4th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and an average target price of $224.00.

Dover Price Performance

NYSE DOV opened at $233.12 on Friday. The firm’s fifty day simple moving average is $209.02 and its two-hundred day simple moving average is $188.32. The firm has a market capitalization of $31.44 billion, a P/E ratio of 29.36, a P/E/G ratio of 1.79 and a beta of 1.29. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $237.54.

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

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.52 per share. The ex-dividend date 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 presently 26.20%.

Insider Activity at Dover

In related news, CEO Richard J. Tobin sold 76,997 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $232.70, for a total value of $17,917,201.90. Following the completion of the transaction, the chief executive officer directly owned 217,979 shares of the company’s stock, valued at $50,723,713.30. This trade represents a 26.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Ivonne M. Cabrera sold 4,000 shares of Dover stock in a transaction that occurred on 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 sale, the senior vice president owned 72,188 shares of the company’s stock, valued at $16,836,407.24. This trade represents a 5.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 86,754 shares of company stock worth $20,000,768. 1.30% of the stock is owned by insiders.

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.