Jefferies Financial Group Inc. Grows Stock Holdings in Dover Corporation $DOV

Jefferies Financial Group Inc. boosted its stake in shares of Dover Corporation (NYSE:DOV) by 36.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 48,800 shares of the industrial products company’s stock after purchasing an additional 12,966 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Dover were worth $8,141,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Vermillion & White Wealth Management Group LLC boosted its stake in shares of Dover by 122.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock worth $31,000 after buying an additional 93 shares during the last quarter. Caldwell Trust Co purchased a new position in Dover during the second quarter valued at approximately $31,000. Westside Investment Management Inc. lifted 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 valued at $38,000 after acquiring an additional 114 shares during the period. Cornerstone Planning Group LLC boosted its position in Dover by 371.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 264 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 208 shares in the last quarter. Finally, Davis Capital Management acquired a new stake in shares of Dover during the 3rd quarter worth approximately $44,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Buying and Selling at Dover

In related news, CEO Richard J. Tobin sold 76,997 shares of Dover stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $232.70, for a total value of $17,917,201.90. Following the completion of the transaction, the chief executive officer owned 217,979 shares in the company, valued at approximately $50,723,713.30. The trade was a 26.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Ivonne M. Cabrera sold 4,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total transaction 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 trade represents a 5.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 82,497 shares of company stock valued at $19,196,277 over the last quarter. 1.20% of the stock is owned by company insiders.

Dover Price Performance

DOV stock opened at $210.82 on Tuesday. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $237.54. The firm has a market capitalization of $28.43 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 1.60 and a beta of 1.26. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28. The business has a 50 day simple moving average of $214.22 and a 200-day simple moving average of $191.89.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.03. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Dover had a net margin of 13.52% and a return on equity of 17.87%. Dover’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the business earned $2.20 earnings per share. Equities research analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. Dover’s payout ratio is presently 26.20%.

Analysts Set New Price Targets

Several research firms recently commented on DOV. Barclays set a $206.00 price target on shares of Dover in a research report on Monday, February 2nd. Royal Bank Of Canada raised their target price on Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $224.00 price target on shares of Dover in a report on Saturday, January 31st. UBS Group set a $256.00 price objective on Dover and gave the company a “buy” rating in a report on Sunday, January 4th. Finally, Oppenheimer upped their target price on Dover from $228.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Dover presently has a consensus 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.