Dover Corporation $DOV Shares Sold by First Trust Advisors LP

First Trust Advisors LP reduced its position in shares of Dover Corporation (NYSE:DOV) by 47.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 897,058 shares of the industrial products company’s stock after selling 819,198 shares during the period. First Trust Advisors LP owned approximately 0.65% of Dover worth $149,656,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Dover by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock worth $3,036,722,000 after purchasing an additional 231,146 shares in the last quarter. State Street Corp increased its holdings in shares of Dover by 2.7% in the second quarter. State Street Corp now owns 6,447,149 shares of the industrial products company’s stock valued at $1,181,311,000 after buying an additional 171,934 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Dover by 1.0% during the 2nd quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company’s stock worth $629,996,000 after acquiring an additional 33,539 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of Dover by 10.6% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,376,279 shares of the industrial products company’s stock worth $435,406,000 after acquiring an additional 227,653 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Dover by 4.3% in the 3rd quarter. Fisher Asset Management LLC now owns 1,633,133 shares of the industrial products company’s stock worth $272,456,000 after acquiring an additional 67,588 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Barclays set a $206.00 price target on Dover in a research report on Monday, February 2nd. Weiss Ratings raised shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Royal Bank Of Canada upped their price target on shares of Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Citigroup reiterated a “buy” rating on shares of Dover in a research report on Monday, January 12th. Finally, Oppenheimer raised their target price on Dover from $228.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Eight investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and an average target price of $224.00.

Dover Stock Performance

Shares of DOV opened at $208.51 on Monday. The company has a market capitalization of $28.12 billion, a PE ratio of 26.26, a PEG ratio of 1.60 and a beta of 1.26. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79. The company’s 50 day moving average price is $213.98 and its 200 day moving average price is $191.65. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $237.54.

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

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, February 27th. Dover’s dividend payout ratio (DPR) is currently 26.20%.

Insider Activity at Dover

In related news, CEO Richard J. Tobin sold 76,997 shares of Dover stock in a transaction on 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 completion of the sale, the chief executive officer owned 217,979 shares of the company’s stock, valued at approximately $50,723,713.30. This trade represents a 26.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Ivonne M. Cabrera sold 4,000 shares of the business’s stock in a transaction dated 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 owned 72,188 shares in the company, valued at $16,836,407.24. This trade represents a 5.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 82,497 shares of company stock valued at $19,196,277. Insiders own 1.20% of the company’s stock.

Dover Company Profile

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.