Corient Private Wealth LLC Decreases Stock Holdings in Dover Corporation $DOV

Corient Private Wealth LLC decreased its stake in shares of Dover Corporation (NYSE:DOV) by 16.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 856,665 shares of the industrial products company’s stock after selling 163,697 shares during the period. Corient Private Wealth LLC owned about 0.62% of Dover worth $156,967,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in DOV. Machina Capital S.A.S. raised its holdings in Dover by 38.8% during the second quarter. Machina Capital S.A.S. now owns 8,779 shares of the industrial products company’s stock valued at $1,609,000 after acquiring an additional 2,452 shares during the period. Nordea Investment Management AB raised its holdings in Dover by 9.3% during the 2nd quarter. Nordea Investment Management AB now owns 124,031 shares of the industrial products company’s stock valued at $22,701,000 after buying an additional 10,581 shares during the period. Hsbc Holdings PLC increased its position in Dover by 77.9% during the first quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company’s stock valued at $107,677,000 after acquiring an additional 268,931 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Dover by 1,034.4% in the first quarter. Acadian Asset Management LLC now owns 34,237 shares of the industrial products company’s stock valued at $6,012,000 after acquiring an additional 31,219 shares during the period. Finally, Advisory Resource Group lifted its holdings in shares of Dover by 7.7% in the 2nd quarter. Advisory Resource Group now owns 28,732 shares of the industrial products company’s stock worth $5,264,000 after acquiring an additional 2,047 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dover

In other Dover news, CFO Christopher B. Woenker sold 1,627 shares of the stock in a transaction on Friday, November 28th. The stock was sold at an average price of $186.04, for a total transaction of $302,687.08. Following the sale, the chief financial officer owned 2,553 shares of the company’s stock, valued at approximately $474,960.12. This trade represents a 38.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $190.80, for a total value of $501,804.00. Following the sale, the senior vice president owned 72,968 shares of the company’s stock, valued at $13,922,294.40. This trade represents a 3.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.20% of the stock is currently owned by company insiders.

Dover Stock Performance

DOV stock opened at $199.18 on Monday. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31. The business has a 50-day moving average price of $179.34 and a 200 day moving average price of $179.06. The company has a market capitalization of $27.32 billion, a P/E ratio of 12.25, a PEG ratio of 1.55 and a beta of 1.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44.

Dover (NYSE:DOV) last posted its earnings results on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. The business had revenue of $1.78 billion for the quarter. As a group, equities 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 will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, November 28th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. Dover’s dividend payout ratio is currently 12.79%.

Analysts Set New Price Targets

Several brokerages recently commented on DOV. Wells Fargo & Company upped their price target on shares of Dover from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday, October 24th. Morgan Stanley upped their target price on Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. JPMorgan Chase & Co. raised their price target on Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. UBS Group set a $200.00 price objective on Dover in a research report on Friday, October 24th. Finally, BNP Paribas assumed coverage on Dover in a research report on Thursday, December 4th. They set a “neutral” rating and a $195.00 target price for the company. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dover currently has an average rating of “Moderate Buy” and an average target price of $209.73.

About Dover

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.