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

Dover Corporation (NYSE:DOV) SVP Ivonne Cabrera sold 4,000 shares of the company’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 transaction of $932,920.00. Following the transaction, the senior vice president owned 72,188 shares of the company’s stock, valued at approximately $16,836,407.24. This represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Dover Stock Performance

Shares of Dover stock opened at $233.12 on Friday. The company’s 50 day moving average price is $209.02 and its two-hundred day moving average price is $188.25. The firm has a market capitalization of $31.44 billion, a P/E ratio of 29.36, a P/E/G ratio of 1.78 and a beta of 1.29. Dover Corporation has a fifty-two week low of $143.04 and a fifty-two week 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.

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 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 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 prior year, the business earned $2.20 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th. Dover’s dividend payout ratio (DPR) is presently 26.20%.

Institutional Investors Weigh In On Dover

Several large investors have recently modified their holdings of DOV. Meeder Asset Management Inc. boosted its position in Dover by 234.2% during the fourth quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 89 shares during the last quarter. Financial Life Planners bought a new stake in shares of Dover during the 3rd quarter valued at about $25,000. Tompkins Financial Corp boosted its position in shares of Dover by 102.7% during the 4th quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 77 shares in the last quarter. AdvisorShares Investments LLC bought a new stake in Dover in the second quarter worth approximately $30,000. Finally, Vermillion & White Wealth Management Group LLC lifted its stake 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 buying an additional 93 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DOV. Robert W. Baird set a $255.00 price objective on shares of Dover in a report on Friday, January 30th. The Goldman Sachs Group restated a “buy” rating and issued a $224.00 price target on shares of Dover in a research report on Saturday, January 31st. Citigroup reiterated a “buy” rating on shares of Dover in a report on Monday, January 12th. UBS Group set a $256.00 price objective on shares of Dover and gave the stock a “buy” rating in a research note on Sunday, January 4th. Finally, JPMorgan Chase & Co. raised their target price on Dover from $230.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

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.