Quantbot Technologies LP Takes $4.09 Million Position in Dover Corporation $DOV

Quantbot Technologies LP acquired a new stake in Dover Corporation (NYSE:DOV) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 24,497 shares of the industrial products company’s stock, valued at approximately $4,087,000.

A number of other large investors have also recently added to or reduced their stakes in DOV. Vermillion & White Wealth Management Group LLC raised its position in shares of 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 valued at $31,000 after purchasing an additional 93 shares during the period. Caldwell Trust Co bought a new stake in shares of Dover during the 2nd quarter worth $31,000. Westside Investment Management Inc. grew its stake in Dover by 100.0% in 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 last quarter. Cornerstone Planning Group LLC raised its holdings in Dover by 371.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 264 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 208 shares during the period. Finally, Davis Capital Management acquired a new position in Dover during the 3rd quarter worth $44,000. Institutional investors own 84.46% of the company’s stock.

Dover Trading Down 0.8%

Dover stock opened at $225.32 on Monday. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $237.54. The stock has a market cap of $30.39 billion, a price-to-earnings ratio of 28.38, a price-to-earnings-growth ratio of 1.73 and a beta of 1.26. The business has a 50 day moving average price of $212.11 and a two-hundred day moving average price of $190.24. The company has a quick ratio of 1.28, a current ratio of 1.79 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last issued its earnings results on Thursday, January 29th. The industrial products company reported $2.51 EPS for the quarter, beating 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 business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the prior year, the company posted $2.20 earnings per share. Dover’s revenue was up 8.8% on a year-over-year basis. As a group, equities analysts forecast that Dover Corporation will post 9.45 EPS for the current year.

Dover Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DOV shares. Citigroup reaffirmed a “buy” rating on shares of Dover in a research report on Monday, January 12th. Barclays set a $206.00 target price on Dover in a research note on Monday, February 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $224.00 price target on shares of Dover in a research report on Saturday, January 31st. Wall Street Zen upgraded Dover from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Morgan Stanley set a $210.00 price objective on Dover in a research report on Wednesday, February 4th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $224.00.

Insider Activity

In other Dover news, 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 sale, the vice president directly owned 8,422 shares of the company’s stock, valued at approximately $1,943,544.94. The trade was a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Ivonne M. Cabrera sold 4,000 shares of the company’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 sale, the senior vice president owned 72,188 shares in the company, valued at approximately $16,836,407.24. This represents a 5.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 85,127 shares of company stock worth $19,698,081. Corporate insiders own 1.20% of the company’s stock.

About Dover

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.