Modera Wealth Management LLC Sells 2,963 Shares of Dover Corporation $DOV

Modera Wealth Management LLC cut its stake in Dover Corporation (NYSE:DOV) by 3.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 84,683 shares of the industrial products company’s stock after selling 2,963 shares during the period. Modera Wealth Management LLC’s holdings in Dover were worth $15,840,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. William Mack & Associates Inc. acquired a new position in Dover during the third quarter worth approximately $29,000. Clearstead Trust LLC acquired a new position in shares of Dover in the 2nd quarter valued at $30,000. Keating Financial Advisory Services Inc. acquired a new position in shares of Dover in the 2nd quarter valued at $34,000. Kelleher Financial Advisors purchased a new stake in shares of Dover during the 2nd quarter valued at $38,000. Finally, Ascentis Independent Advisors purchased a new stake in shares of Dover during the 1st quarter valued at $46,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DOV. Royal Bank Of Canada upped their price objective on Dover from $216.00 to $219.00 and gave the stock a “sector perform” rating in a report on Friday, October 23rd. Citigroup lifted their target price on Dover from $266.00 to $268.00 and gave the company a “buy” rating in a report on Friday, October 23rd. Wells Fargo & Company boosted their price target on Dover from $229.00 to $233.00 and gave the company an “overweight” rating in a research report on Friday, October 23rd. Wall Street Zen lowered Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Finally, Robert W. Baird set a $258.00 price objective on Dover in a research note on Friday, October 23rd. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $238.60.

Dover Price Performance

Dover stock opened at $207.66 on Friday. Dover Corporation has a 52-week low of $176.40 and a 52-week high of $237.54. The firm has a fifty day moving average of $193.97 and a 200-day moving average of $209.58. The firm has a market capitalization of $27.62 billion, a P/E ratio of 24.20, a PEG ratio of 1.81 and a beta of 1.13. The company has a quick ratio of 1.37, a current ratio of 1.95 and a debt-to-equity ratio of 0.34.

Dover (NYSE:DOV) last issued its earnings results on Thursday, October 22nd. The industrial products company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.03. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.22 billion. Dover had a net margin of 13.60% and a return on equity of 18.68%. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.62 EPS. As a group, analysts predict that Dover Corporation will post 10.72 EPS for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were issued a $0.5250 dividend. The ex-dividend date was Monday, August 31st. This represents a $2.10 annualized dividend and a yield of 1.0%. This is an increase from Dover’s previous quarterly dividend of $0.52. Dover’s payout ratio is currently 24.48%.

Dover Profile

Dover Corporation (NYSE: DOV) is a diversified manufacturer that develops and produces specialized equipment, components and engineered systems for industrial and commercial customers. Its businesses serve markets including fluid handling, equipment manufacturing, clean energy, fueling, refrigeration, heating and cooling, printing, and vehicle service.

The company’s products include pumps, compressors, controls, dispensing and fueling equipment, refrigeration systems, heat-transfer technologies, industrial machinery, vehicle lifts and service equipment, and components used in engineered industrial applications.