Entropy Technologies LP Acquires 36,582 Shares of Dover Corporation $DOV

Key Points

• Entropy Technologies LP increased its stake in Dover by 496.5% in Q3, buying 36,582 shares to own 43,950 shares valued at $7.332 million.
• Dover beat quarterly estimates, reporting $2.51 EPS vs. $2.48 expected and $2.10 billion in revenue (up 8.8% YoY), and analysts carry an average price target of $224 (Moderate Buy).
• The company declared a $0.52 quarterly dividend (annualized $2.08, ~1.0% yield) while insiders sold roughly 82,497 shares worth $19.2 million over the last three months.

Entropy Technologies LP lifted its holdings in shares of Dover Corporation (NYSE:DOV - Free Report) by 496.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,950 shares of the industrial products company's stock after buying an additional 36,582 shares during the period. Entropy Technologies LP's holdings in Dover were worth $7,332,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of DOV. Financial Life Planners purchased a new stake in shares of Dover during the 3rd quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC raised its holdings in shares of 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 valued at $31,000 after purchasing an additional 93 shares during the last quarter. Caldwell Trust Co bought a new position in Dover during the second quarter valued at approximately $31,000. Westside Investment Management Inc. boosted its holdings in Dover by 100.0% in the third quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company's stock worth $38,000 after purchasing an additional 114 shares during the last quarter. Finally, Davis Capital Management purchased a new stake in Dover in the third quarter worth approximately $44,000. Hedge funds and other institutional investors own 84.46% of the company's stock.

Dover Stock Performance

Shares of DOV opened at $203.69 on Friday. The business has a 50-day simple moving average of $214.95 and a two-hundred day simple moving average of $192.29. The company has a quick ratio of 1.28, a current ratio of 1.79 and a debt-to-equity ratio of 0.35. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $237.54. The stock has a market cap of $27.47 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.61 and a beta of 1.27.

Dover (NYSE:DOV - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, beating analysts' consensus estimates of $2.48 by $0.03. The firm had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.09 billion. Dover had a return on equity of 17.87% and a net margin of 13.52%.The business's quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.20 EPS. On average, analysts expect that Dover Corporation will post 9.45 EPS for the current year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, February 27th. Dover's dividend payout ratio is presently 26.20%.

Insider Transactions at Dover

In related news, SVP Ivonne M. Cabrera sold 4,000 shares of the company's stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total value of $932,920.00. Following the completion of the transaction, the senior vice president owned 72,188 shares of the company's stock, valued at approximately $16,836,407.24. This represents a 5.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Girish Juneja sold 1,500 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total value of $346,155.00. Following the completion of the sale, the vice president owned 8,422 shares of the company's stock, valued at $1,943,544.94. The trade was a 15.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 82,497 shares of company stock valued at $19,196,277 over the last three months. Corporate insiders own 1.30% of the company's stock.

Analyst Ratings Changes

DOV has been the subject of a number of research reports. Morgan Stanley set a $210.00 target price on shares of Dover in a research note on Wednesday, February 4th. Wall Street Zen upgraded Dover from a "hold" rating to a "buy" rating in a research note on Saturday, February 28th. UBS Group set a $256.00 price objective on Dover and gave the company a "buy" rating in a research report on Sunday, January 4th. BNP Paribas Exane assumed coverage on Dover in a report on Thursday, December 4th. They issued a "neutral" rating and a $195.00 target price on the stock. Finally, Weiss Ratings raised Dover from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, March 6th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.

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