Shell Asset Management Co. Trims Position in Dover Corporation $DOV

Shell Asset Management Co. decreased its position in shares of Dover Corporation (NYSE:DOV) by 34.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,812 shares of the industrial products company’s stock after selling 2,585 shares during the quarter. Shell Asset Management Co.’s holdings in Dover were worth $803,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Dover by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock worth $3,036,722,000 after buying an additional 231,146 shares in the last quarter. State Street Corp boosted its stake in shares of Dover by 2.7% in the second quarter. State Street Corp now owns 6,447,149 shares of the industrial products company’s stock worth $1,181,311,000 after acquiring an additional 171,934 shares during the period. Geode Capital Management LLC grew its position in shares of Dover by 1.0% during the second 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 in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Dover by 10.6% during 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 purchasing an additional 227,653 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Dover by 717.4% in the 2nd quarter. First Trust Advisors LP now owns 1,716,256 shares of the industrial products company’s stock worth $314,470,000 after purchasing an additional 1,506,288 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Insider Transactions at Dover

In other Dover news, VP Girish Juneja sold 1,500 shares of Dover stock in a transaction 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 completion of the transaction, the vice president directly owned 8,422 shares of the company’s stock, valued at $1,943,544.94. The trade was a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher B. Woenker sold 1,627 shares of the business’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $186.04, for a total transaction of $302,687.08. Following the transaction, the chief financial officer owned 2,553 shares in the company, valued at $474,960.12. This trade represents a 38.92% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 5,757 shares of company stock worth $1,150,646. 1.20% of the stock is currently owned by company insiders.

Dover Price Performance

DOV stock opened at $231.54 on Tuesday. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $237.54. The firm has a market capitalization of $31.76 billion, a P/E ratio of 29.16, a price-to-earnings-growth ratio of 1.78 and a beta of 1.29. The company has a fifty day simple moving average of $206.13 and a two-hundred day simple moving average of $186.82. 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 (NYSE:DOV) last announced its earnings results 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 net margin of 13.52% and a return on equity of 17.87%. The firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the prior year, the company earned $2.20 EPS. The business’s revenue was up 8.8% compared to the same quarter last year. Analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th. Dover’s dividend payout ratio (DPR) is presently 26.20%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. UBS Group set a $256.00 price objective on shares of Dover and gave the company a “buy” rating in a report on Sunday, January 4th. BNP Paribas Exane began coverage on shares of Dover in a research report on Thursday, December 4th. They set a “neutral” rating and a $195.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Robert W. Baird set a $255.00 price target on shares of Dover in a research note on Friday, January 30th. Finally, Oppenheimer increased their price objective on shares of Dover from $228.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $224.00.

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.