Focus Partners Advisor Solutions LLC Buys 3,346 Shares of Dover Corporation $DOV

Focus Partners Advisor Solutions LLC raised its stake in shares of Dover Corporation (NYSE:DOV) by 76.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,698 shares of the industrial products company’s stock after purchasing an additional 3,346 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Dover were worth $1,352,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in DOV. Vermillion & White Wealth Management Group LLC boosted its stake in Dover by 122.4% during 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 last quarter. Caldwell Trust Co bought a new position in shares of Dover during the 2nd quarter valued at approximately $31,000. Westside Investment Management Inc. grew its holdings in shares of Dover by 100.0% in the third quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 114 shares in the last quarter. Cornerstone Planning Group LLC increased its position in Dover by 371.4% in the third quarter. Cornerstone Planning Group LLC now owns 264 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 208 shares during the last quarter. Finally, Davis Capital Management purchased a new stake in Dover during the third quarter valued at $44,000. 84.46% of the stock is owned by institutional investors.

Insider Transactions at Dover

In related news, CEO Richard J. Tobin sold 76,997 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the sale, the chief executive officer directly owned 217,979 shares of the company’s stock, valued at $50,723,713.30. This trade represents a 26.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Ivonne M. Cabrera sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total value of $932,920.00. Following the completion of the transaction, the senior vice president directly owned 72,188 shares of the company’s stock, valued at $16,836,407.24. The trade was a 5.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 82,497 shares of company stock worth $19,196,277 over the last quarter. 1.30% of the stock is currently owned by insiders.

Dover Stock Performance

DOV opened at $215.61 on Friday. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $237.54. The firm has a 50 day moving average of $213.82 and a two-hundred day moving average of $191.26. The firm has a market capitalization of $29.08 billion, a PE ratio of 27.15, a P/E/G ratio of 1.70 and a beta of 1.27.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.09 billion. Dover had a net margin of 13.52% and a return on equity of 17.87%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.20 earnings per share. On average, analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, February 27th. Dover’s payout ratio is 26.20%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DOV. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $224.00 price target on shares of Dover in a report on Saturday, January 31st. BNP Paribas Exane assumed coverage on Dover in a report on Thursday, December 4th. They issued a “neutral” rating and a $195.00 target price for the company. UBS Group set a $256.00 price target on Dover and gave the company a “buy” rating in a report on Sunday, January 4th. Wells Fargo & Company boosted their price objective on shares of Dover from $205.00 to $210.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. Finally, Robert W. Baird set a $255.00 target price on shares of Dover in a report on Friday, January 30th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.