MQS Management LLC Buys Shares of 6,432 Dover Corporation $DOV

MQS Management LLC purchased a new position in shares of Dover Corporation (NYSE:DOV) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,432 shares of the industrial products company’s stock, valued at approximately $1,073,000. Dover comprises about 0.6% of MQS Management LLC’s holdings, making the stock its 8th largest holding.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Dover by 1.4% during the second quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock worth $3,036,722,000 after acquiring an additional 231,146 shares during the last quarter. State Street Corp grew its holdings in shares of Dover by 2.7% during the 2nd quarter. State Street Corp now owns 6,447,149 shares of the industrial products company’s stock worth $1,181,311,000 after purchasing an additional 171,934 shares during the period. Geode Capital Management LLC increased its position in shares of Dover by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company’s stock worth $629,996,000 after purchasing an additional 33,539 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Dover by 10.6% in the 2nd 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 buying an additional 227,653 shares during the period. Finally, First Trust Advisors LP lifted its position in Dover by 717.4% in 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 buying an additional 1,506,288 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DOV shares. Robert W. Baird set a $255.00 price target on shares of Dover in a research report on Friday, January 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Dover in a report on Monday, December 29th. Citigroup reissued a “buy” rating on shares of Dover in a research report on Monday, January 12th. Oppenheimer raised their price target on Dover from $228.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Finally, Barclays set a $206.00 price objective on Dover in a report on Monday, February 2nd. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

Insider Activity

In other news, CFO Christopher B. Woenker sold 1,627 shares of Dover stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $186.04, for a total value of $302,687.08. Following the completion of the transaction, the chief financial officer owned 2,553 shares in the company, valued at approximately $474,960.12. This trade represents a 38.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $190.80, for a total transaction of $501,804.00. Following the sale, the senior vice president owned 72,968 shares in the company, valued at $13,922,294.40. The trade was a 3.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.20% of the company’s stock.

Dover Stock Performance

Shares of DOV stock opened at $229.47 on Wednesday. The firm has a 50 day moving average of $202.84 and a two-hundred day moving average of $185.45. The stock has a market capitalization of $31.47 billion, a PE ratio of 28.90, a P/E/G ratio of 1.73 and a beta of 1.29. The company has a quick ratio of 1.28, a current ratio of 1.79 and a debt-to-equity ratio of 0.35. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $230.36.

Dover (NYSE:DOV) last announced 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. Dover had a return on equity of 17.87% and a net margin of 13.52%.The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the firm earned $2.20 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, research analysts predict that Dover Corporation will post 9.45 EPS for the current fiscal year.

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.