Dover Corporation $DOV Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Dover Corporation (NYSE:DOV) during the third quarter, according to its most recent filing with the SEC. The firm purchased 50,871 shares of the industrial products company’s stock, valued at approximately $9,515,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Callan Family Office LLC acquired a new position in shares of Dover in the 2nd quarter valued at $702,000. Concurrent Investment Advisors LLC increased its position in shares of Dover by 239.5% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 14,204 shares of the industrial products company’s stock valued at $3,186,000 after buying an additional 10,020 shares in the last quarter. Hsbc Holdings PLC raised its stake in Dover by 5.0% during the 2nd quarter. Hsbc Holdings PLC now owns 941,695 shares of the industrial products company’s stock worth $211,269,000 after buying an additional 44,854 shares during the period. Squarepoint Ops LLC raised its stake in Dover by 1,356.0% during the 2nd quarter. Squarepoint Ops LLC now owns 25,989 shares of the industrial products company’s stock worth $5,829,000 after buying an additional 24,204 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in Dover by 99.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 14,701 shares of the industrial products company’s stock worth $3,297,000 after acquiring an additional 7,322 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Stock Down 0.4%

Shares of Dover stock opened at $212.73 on Thursday. The firm has a market cap of $28.30 billion, a PE ratio of 24.79, a P/E/G ratio of 1.84 and a beta of 1.10. The business’s 50 day simple moving average is $194.65 and its 200 day simple moving average is $209.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.37 and a current ratio of 1.95. Dover Corporation has a 52-week low of $176.91 and a 52-week high of $237.54.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, October 22nd. The industrial products company reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.03. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.22 billion. Dover had a return on equity of 18.68% and a net margin of 13.60%. The business’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.62 EPS. On average, analysts predict that Dover Corporation will post 10.72 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were issued a dividend of $0.5250 per share. The ex-dividend date was Monday, August 31st. This is a positive change from Dover’s previous quarterly dividend of $0.52. This represents a $2.10 annualized dividend and a yield of 1.0%. Dover’s dividend payout ratio is currently 24.48%.

Insider Buying and Selling

In related news, CEO Richard Tobin sold 86,440 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $214.86, for a total value of $18,572,498.40. Following the completion of the transaction, the chief executive officer owned 212,855 shares of the company’s stock, valued at approximately $45,734,025.30. This trade represents a 28.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on DOV. Citigroup boosted their target price on Dover from $266.00 to $268.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Royal Bank Of Canada raised their price target on Dover from $216.00 to $219.00 and gave the stock a “sector perform” rating in a research report on Friday, October 23rd. Weiss Ratings lowered Dover from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, September 2nd. Robert W. Baird set a $258.00 price objective on Dover in a research report on Friday, October 23rd. Finally, Wolfe Research reissued an “outperform” rating and set a $262.00 target price on shares of Dover in a research note on Thursday, July 9th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and an average price target of $238.60.

Dover Company Profile

Dover Corporation (NYSE: DOV) is a diversified manufacturer that develops and produces specialized equipment, components and engineered systems for industrial and commercial customers. Its businesses serve markets including fluid handling, equipment manufacturing, clean energy, fueling, refrigeration, heating and cooling, printing, and vehicle service.

The company’s products include pumps, compressors, controls, dispensing and fueling equipment, refrigeration systems, heat-transfer technologies, industrial machinery, vehicle lifts and service equipment, and components used in engineered industrial applications.