Rakuten Investment Management Inc. Buys Shares of 25,976 Dover Corporation $DOV

Rakuten Investment Management Inc. purchased a new position in shares of Dover Corporation (NYSE:DOV) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 25,976 shares of the industrial products company’s stock, valued at approximately $4,334,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AdvisorShares Investments LLC purchased a new stake in Dover during the second quarter worth about $30,000. Vermillion & White Wealth Management Group LLC boosted its stake in shares of Dover by 122.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 93 shares during the period. Caldwell Trust Co acquired a new stake in Dover during the 2nd quarter worth approximately $31,000. Harbour Investments Inc. boosted its position in Dover by 51.7% in the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after buying an additional 60 shares during the period. Finally, Investment Research & Advisory Group Inc. acquired a new position in shares of Dover in the second quarter worth $33,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Trading Up 0.4%

NYSE:DOV opened at $209.40 on Friday. The company has a market capitalization of $28.72 billion, a PE ratio of 12.88, a P/E/G ratio of 1.45 and a beta of 1.31. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $222.31. The stock’s 50 day moving average price is $195.20 and its 200 day moving average price is $183.29. The company has a quick ratio of 1.44, a current ratio of 2.04 and a debt-to-equity ratio of 0.35.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, October 23rd. The industrial products company reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.12. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.11 billion. Dover had a return on equity of 17.62% and a net margin of 28.37%.The company’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.27 earnings per share. On average, research analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, November 28th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. Dover’s dividend payout ratio is currently 12.79%.

Insider Buying and Selling at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 2,630 shares of Dover stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total value of $501,804.00. Following the transaction, the senior vice president directly owned 72,968 shares in the company, valued at approximately $13,922,294.40. The trade was a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher B. Woenker sold 1,627 shares of the stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $186.04, for a total transaction of $302,687.08. Following the sale, the chief financial officer owned 2,553 shares of the company’s stock, 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. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Morgan Stanley increased their price objective on Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dover in a research report on Monday, December 29th. Oppenheimer raised their price objective on shares of Dover from $225.00 to $228.00 and gave the company an “outperform” rating in a report on Friday, November 14th. JPMorgan Chase & Co. lifted their price target on Dover from $220.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $199.00 price objective on shares of Dover in a report on Thursday, January 15th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.09.

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.