Dover (NYSE:DOV) SVP Sells $932,920.00 in Stock

Dover Corporation (NYSE:DOV) SVP Ivonne Cabrera sold 4,000 shares of Dover stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total value of $932,920.00. Following the completion of the transaction, the senior vice president owned 72,188 shares in the company, valued at $16,836,407.24. This trade represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Dover Stock Performance

DOV traded down $1.37 during trading on Wednesday, hitting $231.88. The stock had a trading volume of 1,392,793 shares, compared to its average volume of 1,421,023. The firm has a market capitalization of $31.80 billion, a P/E ratio of 29.20, a PEG ratio of 1.78 and a beta of 1.29. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $237.54. The company’s 50-day moving average price is $206.99 and its 200 day moving average price is $187.23.

Dover (NYSE:DOV) last released its earnings results 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. Dover had a return on equity of 17.87% and a net margin of 13.52%.The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the previous year, the firm posted $2.20 EPS. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities research analysts forecast that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, February 27th. Dover’s payout ratio is currently 26.20%.

Wall Street Analysts Forecast Growth

Several analysts have commented on DOV shares. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $224.00 target price on shares of Dover in a research note on Saturday, January 31st. Wells Fargo & Company boosted their target price on shares of Dover from $205.00 to $210.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. BNP Paribas Exane began coverage on shares of Dover in a research note on Thursday, December 4th. They set a “neutral” rating and a $195.00 price target on the stock. Robert W. Baird set a $255.00 price objective on shares of Dover in a research note on Friday, January 30th. Finally, Morgan Stanley set a $210.00 target price on Dover in a report on Wednesday, February 4th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $224.00.

Institutional Investors Weigh In On Dover

Several hedge funds and other institutional investors have recently modified their holdings of DOV. Bank of New York Mellon Corp boosted its stake in Dover by 174.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,880,653 shares of the industrial products company’s stock valued at $562,419,000 after purchasing an additional 1,830,722 shares in the last quarter. First Trust Advisors LP grew its holdings in Dover by 179.7% during the fourth quarter. First Trust Advisors LP now owns 2,509,217 shares of the industrial products company’s stock worth $489,900,000 after acquiring an additional 1,612,159 shares during the period. Norges Bank bought a new stake in Dover in the second quarter worth about $274,135,000. Diamond Hill Capital Management Inc. acquired a new stake in Dover in the 4th quarter valued at about $151,473,000. Finally, AQR Capital Management LLC boosted its position in shares of Dover by 912.9% during the 2nd quarter. AQR Capital Management LLC now owns 789,409 shares of the industrial products company’s stock valued at $144,572,000 after purchasing an additional 711,471 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Company Profile

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.