3,400 Shares in Dover Corporation $DOV Purchased by CTC Alternative Strategies Ltd.

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

Several other hedge funds also recently modified their holdings of the company. Machina Capital S.A.S. grew its stake in Dover by 91.8% in 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 acquiring an additional 8,055 shares during the period. Generali Asset Management SPA SGR lifted its stake in shares of 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 during the period. SG Americas Securities LLC boosted its holdings in shares of Dover by 1,644.9% during the third quarter. SG Americas Securities LLC now owns 26,749 shares of the industrial products company’s stock worth $4,463,000 after purchasing an additional 25,216 shares during the last quarter. Federated Hermes Inc. lifted its position in Dover by 17.3% during the third quarter. Federated Hermes Inc. now owns 43,300 shares of the industrial products company’s stock worth $7,224,000 after buying an additional 6,399 shares during the period. Finally, Cerity Partners LLC boosted its stake in Dover by 34.4% in the 3rd quarter. Cerity Partners LLC now owns 91,061 shares of the industrial products company’s stock worth $15,192,000 after buying an additional 23,298 shares during the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on DOV. Morgan Stanley set a $210.00 price objective on shares of Dover in a research note on Wednesday, February 4th. Wall Street Zen upgraded shares of Dover from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Weiss Ratings raised shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 6th. UBS Group set a $256.00 price target on shares of Dover and gave the company a “buy” rating in a report on Sunday, January 4th. Finally, Royal Bank Of Canada boosted their price objective on shares of Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Nine investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $225.67.

Insider Activity at Dover

In other Dover news, VP Girish Juneja sold 1,500 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was 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 in the company, valued at $1,943,544.94. The trade was a 15.12% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 dated Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total value of $932,920.00. Following the completion of the sale, the senior vice president directly owned 72,188 shares of the company’s stock, valued at $16,836,407.24. The trade was a 5.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 82,497 shares of company stock worth $19,196,277. 1.30% of the stock is currently owned by corporate insiders.

Dover Stock Down 0.9%

Shares of NYSE:DOV opened at $211.97 on Thursday. The stock has a 50-day simple moving average of $215.67 and a 200-day simple moving average of $193.15. The stock has a market capitalization of $28.59 billion, a P/E ratio of 26.70, a PEG 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. 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 posted its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.48 by $0.03. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.09 billion. Dover had a net margin of 13.52% and a return on equity of 17.87%. Dover’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.20 earnings per share. Equities analysts forecast that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Announces Dividend

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

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.