MQS Management LLC Purchases 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, Holdings Channel.com reports. The firm purchased 6,432 shares of the industrial products company’s stock, valued at approximately $1,073,000. Dover makes up about 0.6% of MQS Management LLC’s investment portfolio, making the stock its 8th largest position.

Other hedge funds have also made changes to their positions in the company. AdvisorShares Investments LLC purchased a new stake in Dover during the second quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC raised its holdings in Dover by 122.4% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 93 shares in the last quarter. Caldwell Trust Co purchased a new stake in shares of Dover during the 2nd quarter worth approximately $31,000. Harbour Investments Inc. boosted its holdings in shares of 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 in the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Dover in the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Up 2.0%

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

Dover (NYSE:DOV) last announced its earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share 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 company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the business posted $2.20 EPS. The company’s revenue was up 8.8% on a year-over-year basis. As a group, research analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Insider Buying and Selling at Dover

In other Dover news, 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 value of $302,687.08. Following the transaction, the chief financial officer directly owned 2,553 shares of the company’s stock, valued at approximately $474,960.12. The trade was 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 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 transaction, the senior vice president owned 72,968 shares of the company’s stock, valued at approximately $13,922,294.40. The trade was a 3.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on DOV shares. Citigroup reissued a “buy” rating on shares of Dover in a research report on Monday, January 12th. Wells Fargo & Company boosted their target price on Dover from $205.00 to $210.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Barclays set a $206.00 target price on Dover in a research report on Monday, February 2nd. Royal Bank Of Canada lifted their price target on Dover from $199.00 to $209.00 and gave the stock a “sector perform” rating in a research report on Friday, January 30th. Finally, Robert W. Baird set a $255.00 price objective on Dover in a report on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.