Convergence Investment Partners LLC Makes New Investment in Dover Corp (NYSE:DOV)

Convergence Investment Partners LLC purchased a new position in Dover Corp (NYSE:DOV) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 8,320 shares of the industrial products company’s stock, valued at approximately $803,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DOV. MBE Wealth Management LLC acquired a new stake in shares of Dover during the 1st quarter valued at about $25,000. Flagship Harbor Advisors LLC boosted its position in shares of Dover by 119.1% during the 1st quarter. Flagship Harbor Advisors LLC now owns 515 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 280 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Dover by 26.0% during the 2nd quarter. Valeo Financial Advisors LLC now owns 587 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 121 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of Dover by 15.6% during the 4th quarter. Cubist Systematic Strategies LLC now owns 651 shares of the industrial products company’s stock valued at $75,000 after acquiring an additional 88 shares in the last quarter. Finally, CSat Investment Advisory L.P. lifted its holdings in Dover by 45.3% during the 1st quarter. CSat Investment Advisory L.P. now owns 751 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 234 shares during the last quarter. Institutional investors own 83.76% of the company’s stock.

Several brokerages recently issued reports on DOV. Zacks Investment Research raised shares of Dover from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a report on Thursday, July 16th. Royal Bank of Canada cut their price target on shares of Dover from $86.00 to $78.00 and set a “sector perform” rating for the company in a report on Wednesday, April 22nd. Deutsche Bank dropped their target price on shares of Dover from $127.00 to $99.00 and set a “hold” rating for the company in a research note on Thursday, April 9th. Barclays dropped their target price on shares of Dover from $107.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, April 22nd. Finally, Morgan Stanley boosted their target price on shares of Dover from $107.00 to $117.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Dover currently has an average rating of “Buy” and an average target price of $102.11.

NYSE DOV traded down $1.61 during trading on Friday, reaching $102.93. 1,658,329 shares of the stock traded hands, compared to its average volume of 737,250. The firm has a market cap of $14.82 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 1.72 and a beta of 1.39. The stock’s 50-day moving average price is $98.46 and its 200 day moving average price is $98.71. The company has a quick ratio of 0.91, a current ratio of 1.32 and a debt-to-equity ratio of 0.97. Dover Corp has a fifty-two week low of $62.95 and a fifty-two week high of $120.26.

Dover (NYSE:DOV) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.20. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. Dover had a net margin of 9.99% and a return on equity of 27.33%. The business’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.56 earnings per share. Analysts anticipate that Dover Corp will post 5.19 EPS for the current fiscal year.

About Dover

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates through 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 and 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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