Numerai GP LLC Buys New Shares in Dover Corporation $DOV

Numerai GP LLC purchased a new stake in shares of Dover Corporation (NYSE:DOV) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 43,711 shares of the industrial products company’s stock, valued at approximately $7,292,000. Dover accounts for approximately 1.0% of Numerai GP LLC’s portfolio, making the stock its 11th largest holding.

Other large investors have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in Dover during the third quarter worth $25,000. Vermillion & White Wealth Management Group LLC raised its stake in shares of Dover by 122.4% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock valued at $31,000 after buying an additional 93 shares in the last quarter. Caldwell Trust Co bought a new position in shares of Dover during the 2nd quarter worth about $31,000. Westside Investment Management Inc. boosted its position in shares of Dover by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 114 shares in the last quarter. Finally, Davis Capital Management bought a new stake in Dover in the third quarter valued at about $44,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Up 1.7%

NYSE DOV opened at $207.43 on Tuesday. The stock’s 50 day simple moving average is $215.21 and its 200 day simple moving average is $192.77. Dover Corporation has a one year low of $143.04 and a one year high of $237.54. The firm has a market cap of $27.98 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.57 and a beta of 1.27. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) 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 business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.20 EPS. As a group, sell-side analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors 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 annualized dividend and a yield of 1.0%. Dover’s dividend payout ratio is 26.20%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Robert W. Baird set a $255.00 price target on shares of Dover in a research note on Friday, January 30th. JPMorgan Chase & Co. upped their price objective on Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. BNP Paribas Exane assumed coverage on Dover in a report on Thursday, December 4th. They issued a “neutral” rating and a $195.00 target price for the company. Weiss Ratings raised Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 6th. Finally, UBS Group set a $256.00 price target on Dover and gave the company a “buy” rating in a research report on Sunday, January 4th. Nine research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $225.67.

Insiders Place Their Bets

In other Dover news, CEO Richard J. Tobin sold 76,997 shares of the 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 sale, the chief executive officer owned 217,979 shares of the company’s stock, valued at $50,723,713.30. This represents a 26.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Girish Juneja sold 1,500 shares of the stock in a transaction that occurred 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 sale, the vice president directly owned 8,422 shares in the company, valued at $1,943,544.94. This trade represents a 15.12% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 82,497 shares of company stock valued at $19,196,277 in the last 90 days. 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.