Dover Corporation $DOV Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC lessened its position in shares of Dover Corporation (NYSE:DOV) by 20.8% in the third quarter, Holdings Channel reports. The fund owned 9,377 shares of the industrial products company’s stock after selling 2,456 shares during the quarter. Park Avenue Securities LLC’s holdings in Dover were worth $1,754,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of DOV. apricus wealth LLC increased its position in shares of Dover by 22.5% during the 3rd quarter. apricus wealth LLC now owns 1,225 shares of the industrial products company’s stock valued at $229,000 after purchasing an additional 225 shares during the last quarter. Leeward Investments LLC MA boosted its holdings in shares of Dover by 14.5% in the third quarter. Leeward Investments LLC MA now owns 63,855 shares of the industrial products company’s stock worth $11,944,000 after buying an additional 8,094 shares during the last quarter. Norris Perne & French LLP MI bought a new stake in Dover during the third quarter valued at approximately $295,000. Signaturefd LLC grew its position in Dover by 1.9% during the third quarter. Signaturefd LLC now owns 4,411 shares of the industrial products company’s stock valued at $825,000 after buying an additional 81 shares during the period. Finally, Tectonic Advisors LLC increased its holdings in Dover by 17.9% during the third quarter. Tectonic Advisors LLC now owns 3,947 shares of the industrial products company’s stock valued at $738,000 after buying an additional 599 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Price Performance

NYSE DOV opened at $207.66 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.37 and a debt-to-equity ratio of 0.34. Dover Corporation has a 12 month low of $176.40 and a 12 month high of $237.54. The stock has a market cap of $27.62 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 1.79 and a beta of 1.10. The company’s 50 day moving average is $193.97 and its two-hundred day moving average is $209.58.

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

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were issued a dividend of $0.5250 per share. This represents a $2.10 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, August 31st. This is a boost from Dover’s previous quarterly dividend of $0.52. Dover’s payout ratio is currently 24.48%.

Wall Street Analyst Weigh In

DOV has been the topic of several recent research reports. Wells Fargo & Company increased their price target on shares of Dover from $229.00 to $233.00 and gave the stock an “overweight” rating in a research report on Friday, October 23rd. Royal Bank Of Canada boosted their price objective on shares of Dover from $216.00 to $219.00 and gave the company a “sector perform” rating in a research report on Friday, October 23rd. Wolfe Research restated an “outperform” rating and issued a $262.00 price objective on shares of Dover in a research note on Thursday, July 9th. Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Finally, BMO Capital Markets raised Dover from a “market perform” rating to an “outperform” rating and decreased their target price for the stock from $255.00 to $240.00 in a report on Friday, July 24th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.