Swiss National Bank Has $65.93 Million Stock Position in Dover Corporation $DOV

Swiss National Bank lowered its position in Dover Corporation (NYSE:DOV) by 4.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 395,200 shares of the industrial products company’s stock after selling 19,700 shares during the quarter. Swiss National Bank’s holdings in Dover were worth $65,931,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of DOV. Vanguard Group Inc. raised its stake in shares of Dover by 1.4% during 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 purchasing an additional 231,146 shares in the last quarter. State Street Corp grew 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 buying an additional 171,934 shares in the last quarter. Geode Capital Management LLC increased 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 worth $629,996,000 after buying an additional 33,539 shares during the last quarter. Adage Capital Partners GP L.L.C. raised 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 valued at $435,406,000 after acquiring an additional 227,653 shares in the last quarter. Finally, First Trust Advisors LP raised its position 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 valued at $314,470,000 after acquiring an additional 1,506,288 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Trading Up 0.0%

Dover stock opened at $210.27 on Thursday. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $237.54. 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 firm has a market capitalization of $28.36 billion, a PE ratio of 26.48, a PEG ratio of 1.61 and a beta of 1.27. The business’s 50-day simple moving average is $214.77 and its 200-day simple moving average is $192.21.

Dover (NYSE:DOV) last announced 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 firm had revenue of $2.10 billion during 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%.The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.20 EPS. Equities research analysts forecast that Dover Corporation will post 9.45 earnings per share 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 $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, February 27th. Dover’s dividend payout ratio is currently 26.20%.

Insider Transactions at Dover

In related news, VP Girish Juneja sold 1,500 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $230.77, for a total transaction of $346,155.00. Following the transaction, the vice president owned 8,422 shares of the company’s stock, valued at approximately $1,943,544.94. The trade was a 15.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Ivonne M. Cabrera sold 4,000 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total transaction of $932,920.00. Following the transaction, the senior vice president owned 72,188 shares of the company’s stock, valued at approximately $16,836,407.24. The trade was a 5.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 82,497 shares of company stock worth $19,196,277. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Weiss Ratings raised shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 6th. Barclays set a $206.00 price objective on shares of Dover in a research note on Monday, February 2nd. Wells Fargo & Company upped their price objective on shares of Dover from $205.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Royal Bank Of Canada increased 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, BNP Paribas Exane initiated coverage on Dover in a report on Thursday, December 4th. They set a “neutral” rating and a $195.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $224.00.

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.