Stevens Capital Management LP Purchases Shares of 5,327 Dover Corporation $DOV

Stevens Capital Management LP acquired a new position in shares of Dover Corporation (NYSE:DOV) during the 3rd quarter, Holdings Channel reports. The fund acquired 5,327 shares of the industrial products company’s stock, valued at approximately $889,000.

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

Dover Trading Up 0.3%

Shares of DOV opened at $233.12 on Friday. Dover Corporation has a one year low of $143.04 and a one year high of $237.54. The stock has a 50-day moving average price of $209.02 and a 200 day moving average price of $188.32. 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 company 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.

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

Dover Announces Dividend

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

Analyst Ratings Changes

Several brokerages have commented on DOV. Wall Street Zen lowered Dover from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. UBS Group set a $256.00 target price on shares of Dover and gave the stock a “buy” rating in a research report on Sunday, January 4th. Robert W. Baird set a $255.00 price target on shares of Dover in a report on Friday, January 30th. JPMorgan Chase & Co. boosted their price objective on shares of Dover from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $224.00 target price on shares of Dover in a research note on Saturday, January 31st. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

Insider Buying and Selling

In related news, SVP Ivonne M. Cabrera sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total value of $932,920.00. Following the sale, the senior vice president owned 72,188 shares of the company’s stock, valued at approximately $16,836,407.24. This trade represents a 5.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Christopher B. Woenker sold 1,627 shares of the stock in a transaction on Friday, November 28th. The stock was sold at an average price of $186.04, for a total value of $302,687.08. Following the completion of the sale, the chief financial officer directly owned 2,553 shares in the company, valued at $474,960.12. This represents a 38.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 86,754 shares of company stock valued at $20,000,768. 1.30% of the stock is currently owned by 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.