Beck Mack & Oliver LLC Sells 2,688 Shares of Dover Corporation $DOV

Beck Mack & Oliver LLC lessened its holdings in shares of Dover Corporation (NYSE:DOV) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,920 shares of the industrial products company’s stock after selling 2,688 shares during the quarter. Beck Mack & Oliver LLC’s holdings in Dover were worth $8,662,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DOV. Financial Life Planners acquired a new stake in shares of Dover during the third quarter worth about $25,000. Vermillion & White Wealth Management Group LLC grew its position in shares of Dover by 122.4% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 93 shares during the period. Caldwell Trust Co bought a new stake in Dover during the 2nd quarter worth approximately $31,000. Westside Investment Management Inc. increased its stake in Dover by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 114 shares in the last quarter. Finally, Davis Capital Management acquired a new stake in Dover during the 3rd quarter worth approximately $44,000. 84.46% of the stock is owned by institutional investors and hedge funds.

Dover Stock Performance

Shares of DOV opened at $203.91 on Friday. The stock has a market capitalization of $27.50 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 1.57 and a beta of 1.27. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $237.54. The firm has a fifty day simple moving average of $215.11 and a 200 day simple moving average of $192.52. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35.

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

Dover Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, February 27th. Dover’s dividend payout ratio is presently 26.20%.

Insider Activity at Dover

In other Dover news, CEO Richard J. Tobin sold 76,997 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the transaction, the chief executive officer owned 217,979 shares of the company’s stock, valued at $50,723,713.30. The trade was a 26.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Girish Juneja sold 1,500 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were 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 directly owned 8,422 shares of the company’s stock, valued at approximately $1,943,544.94. The trade was a 15.12% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 82,497 shares of company stock valued at $19,196,277. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Robert W. Baird set a $255.00 price target on shares of Dover in a report on Friday, January 30th. Morgan Stanley set a $210.00 price objective on shares of Dover in a report on Wednesday, February 4th. Wells Fargo & Company boosted their price objective on shares of Dover from $205.00 to $210.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. BNP Paribas Exane started coverage on shares of Dover in a research note on Thursday, December 4th. They issued a “neutral” rating and a $195.00 target price for the company. Finally, Wall Street Zen raised Dover from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $224.00.

Dover 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.