Cannell & Spears LLC Purchases 23,430 Shares of Dover Corporation $DOV

Cannell & Spears LLC raised its position in Dover Corporation (NYSE:DOV) by 104.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,857 shares of the industrial products company’s stock after acquiring an additional 23,430 shares during the quarter. Cannell & Spears LLC’s holdings in Dover were worth $7,650,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Financial Life Planners bought a new stake in shares of Dover in the 3rd quarter worth approximately $25,000. Vermillion & White Wealth Management Group LLC boosted its holdings in 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 valued at $31,000 after acquiring an additional 93 shares in the last quarter. Caldwell Trust Co purchased a new position in Dover during the 2nd quarter valued at $31,000. Westside Investment Management Inc. raised its holdings in Dover by 100.0% in 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, Cornerstone Planning Group LLC raised its holdings 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. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on DOV shares. Weiss Ratings raised shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 6th. UBS Group set a $256.00 price target on shares of Dover and gave the stock a “buy” rating in a research note on Sunday, January 4th. Wall Street Zen raised Dover from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Citigroup reiterated a “buy” rating on shares of Dover in a report on Monday, January 12th. Finally, BNP Paribas Exane assumed coverage on Dover in a research note on Thursday, December 4th. They issued a “neutral” rating and a $195.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Dover has an average rating of “Moderate Buy” and a consensus price target of $224.00.

Dover Trading Up 0.1%

Shares of NYSE DOV opened at $203.91 on Friday. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $237.54. 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 firm has a 50-day moving average of $215.11 and a 200 day moving average of $192.52. The stock has a market cap of $27.50 billion, a P/E ratio of 25.68, a price-to-earnings-growth ratio of 1.57 and a beta of 1.27.

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

Dover Dividend Announcement

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

Insider Buying and Selling at Dover

In other Dover news, VP Girish Juneja sold 1,500 shares of the business’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard J. Tobin sold 76,997 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $232.70, for a total value of $17,917,201.90. Following the completion of the sale, the chief executive officer directly owned 217,979 shares in the company, valued at approximately $50,723,713.30. This represents a 26.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 82,497 shares of company stock worth $19,196,277. 1.30% of the stock is owned by insiders.

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.