Fox Run Management L.L.C. Acquires New Position in Dover Corp (DOV)

Fox Run Management L.L.C. acquired a new stake in shares of Dover Corp (NYSE:DOV) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,091 shares of the industrial products company’s stock, valued at approximately $274,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DOV. Summit Trail Advisors LLC boosted its stake in Dover by 4,425.8% during the 1st quarter. Summit Trail Advisors LLC now owns 106,446 shares of the industrial products company’s stock valued at $106,000 after acquiring an additional 104,094 shares during the last quarter. Fort L.P. bought a new position in Dover during the 2nd quarter valued at $118,000. Winthrop Partners WNY LLC bought a new position in Dover during the 1st quarter valued at $126,000. Centaurus Financial Inc. bought a new position in Dover during the 2nd quarter valued at $127,000. Finally, Piedmont Investment Advisors LLC bought a new position in Dover during the 2nd quarter valued at $133,000. Hedge funds and other institutional investors own 90.73% of the company’s stock.

Shares of NYSE:DOV opened at $82.18 on Friday. The firm has a market cap of $13.08 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 1.53 and a beta of 1.34. Dover Corp has a 1-year low of $70.12 and a 1-year high of $90.26. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.93 and a current ratio of 1.35.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, July 19th. The industrial products company reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.09. Dover had a net margin of 9.64% and a return on equity of 18.66%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the company earned $1.04 EPS. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Dover Corp will post 4.82 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Friday, August 31st were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend was Thursday, August 30th. This is a boost from Dover’s previous quarterly dividend of $0.47. Dover’s dividend payout ratio (DPR) is 47.64%.

In related news, Director Kristiane C. Graham sold 50,000 shares of the stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $82.75, for a total value of $4,137,500.00. Following the sale, the director now owns 367,324 shares of the company’s stock, valued at approximately $30,396,061. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is owned by company insiders.

A number of analysts have weighed in on the stock. Zacks Investment Research cut shares of Dover from a “buy” rating to a “hold” rating in a report on Friday. Gordon Haskett assumed coverage on shares of Dover in a report on Friday. They set a “buy” rating on the stock. Bank of America increased their target price on shares of Dover from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, September 26th. Barclays increased their target price on shares of Dover to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, September 12th. Finally, Stifel Nicolaus increased their target price on shares of Dover from $85.00 to $92.00 and gave the stock a “hold” rating in a report on Wednesday, September 12th. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $90.77.

About Dover

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in three segments: Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Engineered Systems segment offers precision marking and coding, digital textile printing, soldering and dispensing equipment, and related consumables and services; and automation components, including manual clamps, power clamps, rotary and linear mechanical indexers, conveyors, pick and place units, glove ports, and manipulators, as well as end-of-arm robotic grippers, slides, and end effectors for fast-moving consumer goods, digital textile printing, vehicle service, environmental solutions, and industrials end markets.

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Institutional Ownership by Quarter for Dover (NYSE:DOV)

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