Dover (NYSE:DOV) CEO Sells $18,572,498.40 in Stock

Dover Corporation (NYSE:DOV) CEO Richard Tobin sold 86,440 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $214.86, for a total value of $18,572,498.40. Following the sale, the chief executive officer directly owned 212,855 shares in the company, valued at $45,734,025.30. This trade represents a 28.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Dover Stock Down 4.8%

Shares of NYSE DOV opened at $202.38 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.95 and a debt-to-equity ratio of 0.34. The company has a market cap of $26.92 billion, a P/E ratio of 23.59, a P/E/G ratio of 1.83 and a beta of 1.10. Dover Corporation has a 52 week low of $176.91 and a 52 week high of $237.54. The business has a 50-day simple moving average of $194.60 and a two-hundred day simple moving average of $209.70.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, October 22nd. The industrial products company reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.03. Dover had a return on equity of 18.68% and a net margin of 13.60%. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the prior year, the business posted $2.62 earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. Research analysts anticipate that Dover Corporation will post 10.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dover

Hedge funds have recently bought and sold shares of the stock. William Mack & Associates Inc. purchased a new stake in Dover in the third quarter worth $29,000. Three Bridge Wealth Advisors LLC bought a new stake in Dover in the third quarter valued at $29,000. Clearstead Trust LLC purchased a new position in Dover during the 2nd quarter valued at $30,000. Keating Financial Advisory Services Inc. purchased a new position in Dover during the 2nd quarter valued at $34,000. Finally, Kelleher Financial Advisors bought a new position in Dover in the 2nd quarter worth $38,000. 84.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on DOV shares. Wells Fargo & Company upped their target price on shares of Dover from $229.00 to $233.00 and gave the stock an “overweight” rating in a report on Friday, October 23rd. Wolfe Research reissued an “outperform” rating and issued a $262.00 price target on shares of Dover in a report on Thursday, July 9th. BMO Capital Markets raised shares of Dover from a “market perform” rating to an “outperform” rating and cut their price target for the company from $255.00 to $240.00 in a report on Friday, July 24th. Mizuho reduced their price target on shares of Dover from $270.00 to $245.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. Finally, Robert W. Baird set a $258.00 price target on shares of Dover in a report 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 MarketBeat, Dover has an average rating of “Moderate Buy” and a consensus price target of $238.60.

Dover Company 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.