GSA Capital Partners LLP Purchases New Stake in Dover Corporation $DOV

GSA Capital Partners LLP acquired a new position in shares of Dover Corporation (NYSE:DOV) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 4,481 shares of the industrial products company’s stock, valued at approximately $748,000.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Dover by 1.4% in the second quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock valued at $3,036,722,000 after buying an additional 231,146 shares during the period. State Street Corp lifted its stake in shares of Dover by 2.7% in the 2nd quarter. State Street Corp now owns 6,447,149 shares of the industrial products company’s stock valued at $1,181,311,000 after purchasing an additional 171,934 shares during the period. Geode Capital Management LLC boosted its position in shares of Dover by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company’s stock worth $629,996,000 after purchasing an additional 33,539 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of Dover by 10.6% during the second quarter. Adage Capital Partners GP L.L.C. now owns 2,376,279 shares of the industrial products company’s stock worth $435,406,000 after purchasing an additional 227,653 shares during the period. Finally, First Trust Advisors LP increased its holdings in Dover by 717.4% in the second quarter. First Trust Advisors LP now owns 1,716,256 shares of the industrial products company’s stock valued at $314,470,000 after purchasing an additional 1,506,288 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Analyst Ratings Changes

DOV has been the topic of a number of recent analyst reports. Citigroup restated a “buy” rating on shares of Dover in a report on Monday, January 12th. UBS Group set a $256.00 price objective on shares of Dover and gave the stock a “buy” rating in a research note on Sunday, January 4th. JPMorgan Chase & Co. upped their target price on shares of Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Robert W. Baird set a $255.00 price target on shares of Dover in a research report on Friday, January 30th. Finally, Royal Bank Of Canada boosted their price target on shares of Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a report on Friday, January 30th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

Dover Stock Up 0.3%

Dover stock opened at $233.12 on Friday. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $237.54. The company has a quick ratio of 1.28, a current ratio of 1.79 and a debt-to-equity ratio of 0.35. The company has a 50 day moving average of $209.02 and a 200-day moving average of $188.32. The stock has a market capitalization of $31.44 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 1.79 and a beta of 1.29.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.48 by $0.03. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Dover had a net margin of 13.52% and a return on equity of 17.87%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 EPS. On average, equities research analysts anticipate that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued 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 dividend payout ratio (DPR) is presently 26.20%.

Insider Transactions at Dover

In other Dover news, VP Girish Juneja sold 1,500 shares of the business’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 value of $346,155.00. Following the sale, the vice president owned 8,422 shares in the company, valued at approximately $1,943,544.94. The trade was a 15.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard J. Tobin sold 76,997 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 86,754 shares of company stock worth $20,000,768 in the last 90 days. 1.30% of the stock is owned by corporate insiders.

Dover Company 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.