Elkfork Partners LLC Acquires Shares of 5,478 Dover Corp (DOV)

Elkfork Partners LLC bought a new position in shares of Dover Corp (NYSE:DOV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,478 shares of the industrial products company’s stock, valued at approximately $553,000.

A number of other hedge funds have also bought and sold shares of the business. Raymond James & Associates increased its stake in Dover by 24.8% during the fourth quarter. Raymond James & Associates now owns 39,593 shares of the industrial products company’s stock worth $3,998,000 after acquiring an additional 7,867 shares during the last quarter. Bain Capital Public Equity Management LLC acquired a new stake in Dover during the fourth quarter worth $20,823,000. Ellington Management Group LLC acquired a new stake in Dover during the fourth quarter worth $475,000. Stone Ridge Asset Management LLC acquired a new stake in Dover during the fourth quarter worth $7,038,000. Finally, Guggenheim Capital LLC increased its stake in Dover by 11.2% during the fourth quarter. Guggenheim Capital LLC now owns 398,959 shares of the industrial products company’s stock worth $40,291,000 after acquiring an additional 40,111 shares during the last quarter. 88.17% of the stock is owned by institutional investors.

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In related news, insider Stephen Gary Kennon sold 15,702 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $102.01, for a total transaction of $1,601,761.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Patrick Burns bought 510 shares of the stock in a transaction that occurred on Friday, March 2nd. The shares were bought at an average cost of $97.51 per share, with a total value of $49,730.10. Following the completion of the purchase, the senior vice president now directly owns 1,883 shares in the company, valued at $183,611.33. The disclosure for this purchase can be found here. Insiders sold 19,897 shares of company stock valued at $2,031,745 over the last ninety days. Insiders own 2.50% of the company’s stock.

DOV has been the subject of several recent analyst reports. Royal Bank of Canada reissued a “hold” rating and set a $105.00 target price on shares of Dover in a research note on Wednesday, January 17th. BMO Capital Markets reissued a “buy” rating on shares of Dover in a research note on Friday, January 26th. Stifel Nicolaus reissued a “hold” rating and set a $100.00 target price on shares of Dover in a research note on Thursday, December 14th. Barclays initiated coverage on Dover in a research note on Thursday, February 15th. They set an “overweight” rating and a $120.00 target price for the company. Finally, Zacks Investment Research cut Dover from a “buy” rating to a “hold” rating in a research note on Monday, January 22nd. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $107.83.

Shares of NYSE DOV opened at $98.22 on Friday. Dover Corp has a twelve month low of $76.47 and a twelve month high of $109.06. The company has a quick ratio of 1.01, a current ratio of 1.40 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $15,167.53, a PE ratio of 24.37, a PEG ratio of 1.29 and a beta of 1.28.

Dover (NYSE:DOV) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.09. Dover had a return on equity of 15.24% and a net margin of 10.37%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The company’s revenue was up 13.5% on a year-over-year basis. research analysts anticipate that Dover Corp will post 5.86 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th were paid a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.91%. Dover’s payout ratio is presently 46.65%.

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Dover Company Profile

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.

Institutional Ownership by Quarter for Dover (NYSE:DOV)

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