AQR Capital Management LLC Has $8.73 Million Stock Holdings in Dover Co. (NYSE:DOV)

AQR Capital Management LLC increased its holdings in shares of Dover Co. (NYSE:DOV) by 12.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,379 shares of the industrial products company’s stock after acquiring an additional 5,194 shares during the period. AQR Capital Management LLC’s holdings in Dover were worth $8,730,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. LRI Investments LLC acquired a new stake in Dover during the first quarter valued at approximately $27,000. McClarren Financial Advisors Inc. boosted its stake in Dover by 4,400.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after buying an additional 176 shares in the last quarter. Fairscale Capital LLC bought a new stake in Dover in the second quarter valued at $34,000. Transcendent Capital Group LLC raised its stake in Dover by 208.0% during the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 156 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Dover during the second quarter valued at $41,000. Institutional investors own 84.46% of the company’s stock.

Insider Buying and Selling

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the transaction, the senior vice president now owns 47,060 shares of the company’s stock, valued at $8,706,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the sale, the senior vice president now directly owns 47,060 shares in the company, valued at $8,706,100. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. The disclosure for this sale can be found here. Insiders sold a total of 45,383 shares of company stock valued at $8,169,883 over the last three months. Company insiders own 1.30% of the company’s stock.

Dover Trading Down 0.1 %

Shares of DOV opened at $190.27 on Thursday. The stock’s fifty day simple moving average is $182.99 and its 200-day simple moving average is $180.52. The firm has a market capitalization of $26.15 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. Dover Co. has a 12-month low of $127.25 and a 12-month high of $194.75. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55.

Dover (NYSE:DOV) last issued its earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.15. Dover had a net margin of 17.58% and a return on equity of 24.94%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the firm earned $2.05 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, research analysts predict that Dover Co. will post 9.17 earnings per share for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.515 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.08%. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio is 19.79%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wolfe Research upgraded shares of Dover to a “hold” rating in a research report on Friday, September 20th. Barclays raised their price objective on shares of Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday. Wells Fargo & Company boosted their target price on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a report on Monday. Royal Bank of Canada raised their price target on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Finally, Mizuho lifted their price objective on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $194.00.

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.