CTC Alternative Strategies Ltd. Invests $567,000 in Dover Corporation $DOV

CTC Alternative Strategies Ltd. purchased a new position in shares of Dover Corporation (NYSE:DOV) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,400 shares of the industrial products company’s stock, valued at approximately $567,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Mission Wealth Management LP lifted its position in Dover by 0.8% during the 3rd quarter. Mission Wealth Management LP now owns 7,493 shares of the industrial products company’s stock worth $1,250,000 after acquiring an additional 58 shares during the period. Brown Brothers Harriman & Co. raised its stake in shares of Dover by 4.1% during the third quarter. Brown Brothers Harriman & Co. now owns 1,513 shares of the industrial products company’s stock worth $252,000 after purchasing an additional 59 shares during the last quarter. Cobblestone Capital Advisors LLC NY lifted its holdings in shares of Dover by 2.3% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 2,774 shares of the industrial products company’s stock worth $463,000 after purchasing an additional 62 shares during the period. Certuity LLC increased its stake in Dover by 2.5% in the 2nd quarter. Certuity LLC now owns 2,587 shares of the industrial products company’s stock valued at $474,000 after buying an additional 64 shares during the period. Finally, U.S. Capital Wealth Advisors LLC raised its position in Dover by 4.4% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 1,517 shares of the industrial products company’s stock worth $253,000 after buying an additional 64 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Performance

Shares of DOV stock opened at $211.97 on Thursday. The stock has a fifty day moving average price of $215.67 and a 200 day moving average price of $193.15. 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 market cap of $28.59 billion, a PE ratio of 26.70, a P/E/G ratio of 1.64 and a beta of 1.27. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $237.54.

Dover (NYSE:DOV) last posted its 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. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.09 billion. Dover had a return on equity of 17.87% and a net margin of 13.52%.Dover’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.20 earnings per share. Sell-side analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were given a dividend of $0.52 per share. The ex-dividend date was Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. Dover’s payout ratio is presently 26.20%.

Insider Buying and Selling at Dover

In related news, SVP Ivonne M. Cabrera sold 4,000 shares of Dover stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total transaction of $932,920.00. Following the completion of the transaction, the senior vice president directly owned 72,188 shares in the company, valued at $16,836,407.24. The trade was a 5.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard J. Tobin sold 76,997 shares of the company’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 value of $17,917,201.90. Following the completion of the sale, the chief executive officer directly owned 217,979 shares in the company, valued at approximately $50,723,713.30. The trade was a 26.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 82,497 shares of company stock valued at $19,196,277 over the last quarter. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group reiterated a “buy” rating and set a $224.00 price target on shares of Dover in a research note on Saturday, January 31st. Barclays set a $206.00 price target on Dover in a research note on Monday, February 2nd. Weiss Ratings raised Dover from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 6th. Royal Bank Of Canada boosted their target price on shares of Dover from $199.00 to $209.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Finally, Citigroup reiterated a “buy” rating on shares of Dover in a report on Monday, January 12th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and an average price target of $225.67.

Dover 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.