Richard Tobin Sells 76,997 Shares of Dover (NYSE:DOV) Stock

Dover Corporation (NYSE:DOV) CEO Richard Tobin sold 76,997 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the completion of the transaction, the chief executive officer owned 217,979 shares in the company, valued at $50,723,713.30. This represents a 26.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Dover Price Performance

DOV opened at $233.12 on Friday. The company has a fifty day moving average price of $209.02 and a two-hundred day moving average price of $188.32. The firm has a market capitalization of $31.44 billion, a PE ratio of 29.36, a P/E/G ratio of 1.79 and a beta of 1.29. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $237.54. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79.

Dover (NYSE:DOV) last posted 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. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.09 billion. Dover had a return on equity of 17.87% and a net margin of 13.52%.The firm’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the company earned $2.20 EPS. As a group, analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group restated a “buy” rating and set a $224.00 price objective on shares of Dover in a report on Saturday, January 31st. JPMorgan Chase & Co. upped their price objective on shares of Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Royal Bank Of Canada lifted their target price on Dover from $199.00 to $209.00 and gave the stock a “sector perform” rating in a report on Friday, January 30th. UBS Group set a $256.00 price target on Dover and gave the stock a “buy” rating in a report on Sunday, January 4th. Finally, Wells Fargo & Company lifted their price objective on Dover from $205.00 to $210.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $224.00.

Institutional Trading of Dover

A number of institutional investors have recently modified their holdings of the company. Machina Capital S.A.S. raised its stake in shares of Dover by 38.8% during the 2nd quarter. Machina Capital S.A.S. now owns 8,779 shares of the industrial products company’s stock worth $1,609,000 after purchasing an additional 2,452 shares in the last quarter. Generali Asset Management SPA SGR increased its holdings in Dover by 103.4% during the third quarter. Generali Asset Management SPA SGR now owns 16,020 shares of the industrial products company’s stock worth $2,673,000 after buying an additional 8,145 shares during the last quarter. Advisory Resource Group raised its position in Dover by 7.7% during the second 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 in the last quarter. SG Americas Securities LLC lifted its stake in Dover by 1,644.9% in the third quarter. SG Americas Securities LLC now owns 26,749 shares of the industrial products company’s stock valued at $4,463,000 after acquiring an additional 25,216 shares during the last quarter. Finally, Cerity Partners LLC grew its position in shares of Dover by 34.4% in the 3rd quarter. Cerity Partners LLC now owns 91,061 shares of the industrial products company’s stock valued at $15,192,000 after acquiring an additional 23,298 shares during the period. 84.46% of the stock is currently owned by institutional investors.

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.