William Blair Investment Management LLC Purchases New Position in Dover Corporation $DOV

William Blair Investment Management LLC acquired a new position in Dover Corporation (NYSE:DOV) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,631 shares of the industrial products company’s stock, valued at approximately $439,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Machina Capital S.A.S. lifted its stake in Dover by 38.8% in the second quarter. Machina Capital S.A.S. now owns 8,779 shares of the industrial products company’s stock worth $1,609,000 after purchasing an additional 2,452 shares during the last quarter. Generali Asset Management SPA SGR lifted its stake in shares of Dover by 103.4% in the 3rd quarter. Generali Asset Management SPA SGR now owns 16,020 shares of the industrial products company’s stock valued at $2,673,000 after acquiring an additional 8,145 shares during the last quarter. Advisory Resource Group boosted its holdings in Dover by 7.7% during the 2nd quarter. Advisory Resource Group now owns 28,732 shares of the industrial products company’s stock valued at $5,264,000 after acquiring an additional 2,047 shares during the period. SG Americas Securities LLC grew its position in Dover by 1,644.9% during the 3rd quarter. SG Americas Securities LLC now owns 26,749 shares of the industrial products company’s stock worth $4,463,000 after acquiring an additional 25,216 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in Dover by 17.3% in the 3rd quarter. Federated Hermes Inc. now owns 43,300 shares of the industrial products company’s stock worth $7,224,000 after purchasing an additional 6,399 shares during the period. Institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DOV. BNP Paribas Exane began coverage on shares of Dover in a report on Thursday, December 4th. They issued a “neutral” rating and a $195.00 target price on the stock. Wells Fargo & Company boosted their price objective on shares of Dover from $205.00 to $210.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. Wall Street Zen upgraded shares of Dover from a “hold” rating to a “buy” rating in a report on Saturday. Robert W. Baird set a $255.00 price target on Dover in a report on Friday, January 30th. Finally, Barclays set a $206.00 price objective on Dover in a report on Monday, February 2nd. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $224.00.

Insider Buying and Selling at Dover

In other Dover news, CEO Richard J. Tobin sold 76,997 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the completion of the transaction, the chief executive officer owned 217,979 shares of the company’s stock, valued at approximately $50,723,713.30. This trade represents a 26.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Girish Juneja sold 1,500 shares of Dover stock in a transaction that occurred on Wednesday, February 11th. The shares were 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 of the company’s stock, valued at $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. Over the last quarter, insiders sold 85,127 shares of company stock valued at $19,698,081. Corporate insiders own 1.20% of the company’s stock.

Dover Stock Down 2.6%

Shares of NYSE:DOV opened at $220.43 on Wednesday. The firm has a market capitalization of $29.73 billion, a P/E ratio of 27.76, a P/E/G ratio of 1.74 and a beta of 1.27. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79. The stock has a 50 day moving average price of $213.05 and a 200-day moving average price of $190.87. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $237.54.

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

Dover Dividend Announcement

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

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.