US Bancorp DE Has $17.46 Million Stake in Dover Corporation $DOV

US Bancorp DE lowered its stake in Dover Corporation (NYSE:DOV) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,634 shares of the industrial products company’s stock after selling 2,285 shares during the period. US Bancorp DE owned 0.08% of Dover worth $17,456,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. First Trust Advisors LP raised its stake in shares of 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 buying an additional 1,506,288 shares during the last quarter. Norges Bank bought a new stake in shares of Dover during the 2nd quarter valued at $274,135,000. AQR Capital Management LLC lifted its stake in shares of Dover by 912.9% in the 2nd quarter. AQR Capital Management LLC now owns 789,409 shares of the industrial products company’s stock valued at $144,572,000 after purchasing an additional 711,471 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Dover by 133.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 656,349 shares of the industrial products company’s stock valued at $109,499,000 after purchasing an additional 375,333 shares during the period. Finally, Hsbc Holdings PLC boosted its position in shares of 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 purchasing an additional 287,362 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Performance

Shares of DOV stock opened at $225.32 on Friday. The company’s fifty day simple moving average is $212.11 and its 200-day simple moving average is $190.18. Dover Corporation has a 12 month low of $143.04 and a 12 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 firm has a market cap of $30.39 billion, a PE ratio of 28.38, a P/E/G ratio of 1.73 and a beta of 1.29.

Dover (NYSE:DOV) last released 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. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.09 billion. Dover had a return on equity of 17.87% and a net margin of 13.52%.Dover’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.20 earnings per share. Equities research analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The company 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 $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th. Dover’s dividend payout ratio (DPR) is 26.20%.

Insider Transactions at Dover

In other news, VP Girish Juneja sold 1,500 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $230.77, for a total value of $346,155.00. Following the sale, the vice president directly owned 8,422 shares of the company’s stock, valued at approximately $1,943,544.94. This represents a 15.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard J. Tobin sold 76,997 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the completion of the sale, the chief executive officer owned 217,979 shares of the company’s stock, valued at $50,723,713.30. This trade represents a 26.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 85,127 shares of company stock worth $19,698,081 in the last ninety days. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DOV. Wall Street Zen raised Dover from a “hold” rating to a “buy” rating in a research note on Saturday. UBS Group set a $256.00 price target on shares of Dover and gave the company a “buy” rating in a research report on Sunday, January 4th. Robert W. Baird set a $255.00 price objective on shares of Dover in a report on Friday, January 30th. Barclays set a $206.00 target price on shares of Dover in a report on Monday, February 2nd. Finally, BNP Paribas Exane assumed coverage on shares of Dover in a report on Thursday, December 4th. They issued a “neutral” rating and a $195.00 price target for the company. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and an average 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.