Woodley Farra Manion Portfolio Management Inc. Sells 5,770 Shares of Dover Corporation $DOV

Woodley Farra Manion Portfolio Management Inc. lessened its holdings in Dover Corporation (NYSE:DOV) by 1.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 348,704 shares of the industrial products company’s stock after selling 5,770 shares during the period. Dover comprises 2.7% of Woodley Farra Manion Portfolio Management Inc.’s holdings, making the stock its 17th biggest position. Woodley Farra Manion Portfolio Management Inc. owned 0.25% of Dover worth $58,174,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Dover by 1.4% during the second quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock worth $3,036,722,000 after purchasing an additional 231,146 shares in the last quarter. State Street Corp grew its stake in shares of Dover by 2.7% during the second quarter. State Street Corp now owns 6,447,149 shares of the industrial products company’s stock worth $1,181,311,000 after acquiring an additional 171,934 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Dover by 1.0% during the second quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company’s stock valued at $629,996,000 after acquiring an additional 33,539 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Dover by 10.6% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,376,279 shares of the industrial products company’s stock worth $435,406,000 after purchasing an additional 227,653 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in Dover by 717.4% during the 2nd quarter. First Trust Advisors LP now owns 1,716,256 shares of the industrial products company’s stock worth $314,470,000 after acquiring an additional 1,506,288 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Up 1.7%

Shares of DOV stock traded up $3.85 during trading on Friday, reaching $236.37. The company’s stock had a trading volume of 38,216 shares, compared to its average volume of 1,365,974. The stock’s 50-day moving average price is $208.34 and its 200 day moving average price is $187.85. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $237.54. The company has a market capitalization of $31.88 billion, a price-to-earnings ratio of 29.45, a P/E/G ratio of 1.78 and a beta of 1.29.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the business earned $2.20 EPS. Dover’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, research analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Announces Dividend

The company 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 $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, February 27th. Dover’s dividend payout ratio (DPR) is 26.20%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on DOV shares. Robert W. Baird set a $255.00 price objective on shares of Dover in a research note on Friday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $224.00 target price on shares of Dover in a report on Saturday, January 31st. Wells Fargo & Company raised their price objective on shares of Dover from $205.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th. Oppenheimer lifted their price target on Dover from $228.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Finally, UBS Group set a $256.00 target price on Dover and gave the company a “buy” rating in a research report on Sunday, January 4th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Dover has an average rating of “Moderate Buy” and a consensus target price of $224.00.

Insider Buying and Selling

In other news, SVP Ivonne M. Cabrera sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total value of $932,920.00. Following the completion of the sale, the senior vice president directly owned 72,188 shares of the company’s stock, valued at $16,836,407.24. This trade represents a 5.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Girish Juneja sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total value of $346,155.00. Following the completion of the sale, the vice president owned 8,422 shares in the company, valued at approximately $1,943,544.94. This represents a 15.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,757 shares of company stock valued at $2,083,566 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

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.