Dover Corporation $DOV Shares Purchased by Machina Capital S.A.S.

Key Points

• Machina Capital S.A.S. increased its holdings in Dover Corporation by 38.8% during Q2, owning 8,779 shares valued at approximately $1.6 million.
• Dover's quarterly earnings showed $1.55 EPS with revenue of $1.78 billion, indicating strong performance and a net margin of 28.37%.
• Analysts have generally raised their ratings on Dover, with six giving it a buy rating and a consensus target price of $211.55.

Machina Capital S.A.S. increased its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 38.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,779 shares of the industrial products company's stock after acquiring an additional 2,452 shares during the quarter. Machina Capital S.A.S.'s holdings in Dover were worth $1,609,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AdvisorShares Investments LLC acquired a new position in Dover during the second quarter worth about $30,000. N.E.W. Advisory Services LLC acquired a new position in Dover during the first quarter worth about $31,000. Harbour Investments Inc. boosted its position in Dover by 51.7% during the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company's stock worth $32,000 after acquiring an additional 60 shares during the last quarter. Truvestments Capital LLC boosted its position in Dover by 1,005.9% during the first quarter. Truvestments Capital LLC now owns 188 shares of the industrial products company's stock worth $33,000 after acquiring an additional 171 shares during the last quarter. Finally, Investment Research & Advisory Group Inc. acquired a new position in Dover during the second quarter worth about $33,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on DOV shares. Wall Street Zen raised shares of Dover from a "hold" rating to a "buy" rating in a research note on Saturday, October 25th. Wells Fargo & Company lifted their target price on shares of Dover from $180.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Friday, October 24th. JPMorgan Chase & Co. lifted their target price on shares of Dover from $217.00 to $220.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 15th. Oppenheimer reduced their target price on shares of Dover from $225.00 to $220.00 and set an "outperform" rating on the stock in a research note on Monday, October 20th. Finally, Robert W. Baird set a $235.00 target price on shares of Dover in a research note on Friday, October 24th. Six research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $211.55.

Dover Price Performance

Dover stock opened at $178.16 on Tuesday. The company's 50 day simple moving average is $172.17 and its 200-day simple moving average is $176.92. The company has a market capitalization of $24.44 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.44 and a current ratio of 2.04.

Dover (NYSE:DOV - Get Free Report) last released its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter. The business had revenue of $1.78 billion for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. As a group, equities research analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, August 29th were paid a $0.52 dividend. This is a positive change from Dover's previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Friday, August 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. Dover's payout ratio is presently 12.79%.

About Dover

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.

Want to see what other hedge funds are holding DOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dover Corporation (NYSE:DOV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.