Numerai GP LLC Acquires New Shares in Dover Corporation $DOV

Numerai GP LLC purchased a new stake in Dover Corporation (NYSE:DOV) during the third quarter, Holdings Channel reports. The institutional investor purchased 43,711 shares of the industrial products company’s stock, valued at approximately $7,292,000. Dover comprises 1.0% of Numerai GP LLC’s investment portfolio, making the stock its 11th largest position.

Several other large investors have also recently bought and sold shares of DOV. Machina Capital S.A.S. raised its stake in Dover by 91.8% during the 3rd quarter. Machina Capital S.A.S. now owns 16,834 shares of the industrial products company’s stock worth $2,808,000 after buying an additional 8,055 shares during the period. Generali Asset Management SPA SGR increased its stake in Dover by 103.4% during the 3rd quarter. Generali Asset Management SPA SGR now owns 16,020 shares of the industrial products company’s stock worth $2,673,000 after purchasing an additional 8,145 shares in the last quarter. SG Americas Securities LLC raised its holdings in Dover by 1,644.9% during the 3rd quarter. SG Americas Securities LLC now owns 26,749 shares of the industrial products company’s stock worth $4,463,000 after buying an additional 25,216 shares during the period. Federated Hermes Inc. lifted its stake in Dover by 17.3% in the third quarter. Federated Hermes Inc. now owns 43,300 shares of the industrial products company’s stock valued at $7,224,000 after buying an additional 6,399 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in shares of Dover by 34.4% in the 3rd quarter. Cerity Partners LLC now owns 91,061 shares of the industrial products company’s stock valued at $15,192,000 after purchasing an additional 23,298 shares during the period. Institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of DOV stock opened at $207.43 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 capitalization of $27.98 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.57 and a beta of 1.27. The company has a 50-day simple moving average of $215.21 and a 200 day simple moving average of $192.77. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79.

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, topping analysts’ consensus estimates 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%.The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.20 earnings per share. On average, sell-side analysts predict that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. Dover’s dividend payout ratio (DPR) is currently 26.20%.

Insider Activity

In related news, 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 transaction, the chief executive officer directly owned 217,979 shares of the company’s stock, valued at approximately $50,723,713.30. This trade represents a 26.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Girish Juneja sold 1,500 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $230.77, for a total transaction of $346,155.00. Following the completion of the sale, the vice president directly owned 8,422 shares of the company’s stock, valued at $1,943,544.94. This represents a 15.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 82,497 shares of company stock valued at $19,196,277. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DOV shares. Barclays set a $206.00 price objective on Dover in a research report on Monday, February 2nd. Royal Bank Of Canada boosted their price target on Dover from $199.00 to $209.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. The Goldman Sachs Group restated a “buy” rating and issued a $224.00 price objective on shares of Dover in a research note on Saturday, January 31st. Robert W. Baird set a $255.00 price objective on Dover in a research report on Friday, January 30th. Finally, Oppenheimer lifted their target price on Dover from $228.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Nine investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $225.67.

About Dover

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.