Neo Ivy Capital Management Takes $1.50 Million Position in Dover Corporation $DOV

Neo Ivy Capital Management bought a new stake in shares of Dover Corporation (NYSE:DOV) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 8,996 shares of the industrial products company’s stock, valued at approximately $1,501,000.

A number of other large investors also recently added to or reduced their stakes in the business. Vermillion & White Wealth Management Group LLC boosted its position in Dover by 122.4% during 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 buying an additional 93 shares during the period. Caldwell Trust Co bought a new position in shares of Dover during the second quarter valued at about $31,000. Westside Investment Management Inc. increased its holdings in shares of Dover by 100.0% in the third quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company’s stock worth $38,000 after buying an additional 114 shares during the period. Davis Capital Management bought a new stake in shares of Dover in the 3rd quarter valued at about $44,000. Finally, Cornerstone Planning Group LLC boosted its holdings in Dover by 371.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 264 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 208 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Price Performance

Shares of Dover stock opened at $208.51 on Friday. The business has a 50 day moving average of $213.98 and a 200 day moving average of $191.48. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $237.54. The company has a market cap of $28.12 billion, a PE ratio of 26.26, a P/E/G ratio of 1.65 and a beta of 1.27. 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 released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.03. Dover had a net margin of 13.52% and a return on equity of 17.87%. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the previous year, the business posted $2.20 earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, equities research analysts forecast that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The business 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. The ex-dividend date is Friday, February 27th. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. Dover’s payout ratio is currently 26.20%.

Insider Buying and Selling

In other Dover news, VP Girish Juneja sold 1,500 shares of the company’s 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 transaction, the vice president owned 8,422 shares in the company, valued at approximately $1,943,544.94. This represents a 15.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard J. Tobin sold 76,997 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was 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 represents a 26.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 82,497 shares of company stock valued at $19,196,277 over the last three months. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. The Goldman Sachs Group restated a “buy” rating and set a $224.00 price target on shares of Dover in a research report on Saturday, January 31st. Wells Fargo & Company increased their price objective on Dover from $205.00 to $210.00 and gave the company an “equal weight” rating in a research note on Friday, January 30th. Wall Street Zen upgraded shares of Dover from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Oppenheimer lifted their target price on shares of Dover from $228.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Finally, Weiss Ratings cut shares of Dover from a “buy (b)” rating to a “hold (c+)” rating in a research report on Tuesday, February 17th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $224.00.

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.