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Is Dover Corp (DOV) A Good Stock To Buy?

Due to the fact that Dover Corp (NYSE:DOV) has experienced declining sentiment from hedge fund managers, it’s easy to see that there lies a certain “tier” of hedgies that elected to cut their full holdings last quarter. Intriguingly, Matthew Tewksbury’s Stevens Capital Management sold off the biggest position of all the hedgies followed by Insider Monkey, valued at about $5.9 million in stock, and Matthew Hulsizer’s PEAK6 Capital Management was right behind this move, as the fund dumped about $3.2 million worth. These transactions are important to note, as total hedge fund interest fell by 1 fund last quarter.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Dover Corp (NYSE:DOV) but similarly valued. We will take a look at First Republic Bank (NYSE:FRC), UDR, Inc. (NYSE:UDR), Expeditors International of Washington (NASDAQ:EXPD), and Cheniere Energy Partners LP (NYSEMKT:CQP). This group of stocks’ market values are similar to DOV’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
FRC 17 362242 -7
UDR 9 45140 -3
EXPD 25 731428 -6
CQP 8 30292 1

As you can see these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $292 million. That figure was $430 million in DOV’s case. Expeditors International of Washington (NASDAQ:EXPD) is the most popular stock in this table. On the other hand Cheniere Energy Partners LP (NYSEAMEX:CQP) is the least popular one with only 8 bullish hedge fund positions. Dover Corp (NYSE:DOV) is not the most popular stock in this group, but hedge fund interest is still above average. This is a slightly positive signal, but we’d rather spend our time focusing on stocks that hedge funds are collective most bullish on. In this regard, EXPD might be a better alternative.

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