Shell Asset Management Co. Trims Stock Holdings in Dover Corporation $DOV

Shell Asset Management Co. cut its holdings in Dover Corporation (NYSE:DOV) by 34.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,812 shares of the industrial products company’s stock after selling 2,585 shares during the quarter. Shell Asset Management Co.’s holdings in Dover were worth $803,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. First Trust Advisors LP grew its position in Dover by 717.4% during the 2nd 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. Norges Bank bought a new position in shares of Dover in the second quarter worth approximately $274,135,000. AQR Capital Management LLC grew its holdings in shares of Dover by 912.9% during the second quarter. AQR Capital Management LLC now owns 789,409 shares of the industrial products company’s stock valued at $144,572,000 after buying an additional 711,471 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Dover by 133.6% during the third quarter. Assenagon Asset Management S.A. now owns 656,349 shares of the industrial products company’s stock valued at $109,499,000 after acquiring an additional 375,333 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in Dover by 46.8% in the 2nd quarter. Hsbc Holdings PLC now owns 901,460 shares of the industrial products company’s stock worth $165,158,000 after acquiring an additional 287,362 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Trading Up 0.4%

Dover stock opened at $231.54 on Tuesday. 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 $31.76 billion, a P/E ratio of 29.16, a P/E/G ratio of 1.78 and a beta of 1.29. 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 business has a 50-day simple moving average of $206.13 and a two-hundred day simple moving average of $186.82.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $2.20 earnings per share. Analysts predict 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 given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. Dover’s payout ratio is presently 26.20%.

Insider Transactions at Dover

In other news, VP Girish Juneja sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total value 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. This trade represents a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ivonne M. Cabrera sold 2,630 shares of Dover stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $190.80, for a total value of $501,804.00. Following the transaction, the senior vice president directly owned 72,968 shares in the company, valued at approximately $13,922,294.40. The trade was a 3.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 5,757 shares of company stock worth $1,150,646 in the last three months. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on DOV. Oppenheimer increased their target price on Dover from $228.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. UBS Group set a $256.00 price target on Dover and gave the company a “buy” rating in a report on Sunday, January 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dover in a report on Monday, December 29th. Wells Fargo & Company boosted their target price on Dover from $205.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Finally, Royal Bank Of Canada raised 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. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

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.