Envestnet Asset Management Inc. Sells 3,617 Shares of Dover Corporation $DOV

Envestnet Asset Management Inc. reduced its position in Dover Corporation (NYSE:DOV) by 2.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 154,198 shares of the industrial products company’s stock after selling 3,617 shares during the quarter. Envestnet Asset Management Inc. owned about 0.11% of Dover worth $25,725,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Dover by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 16,573,281 shares of the industrial products company’s stock valued at $3,036,722,000 after purchasing an additional 231,146 shares during the period. State Street Corp raised its position 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 worth $1,181,311,000 after buying an additional 171,934 shares in the last quarter. Geode Capital Management LLC boosted its stake in Dover by 1.0% during the second quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company’s stock valued at $629,996,000 after buying an additional 33,539 shares during the period. Adage Capital Partners GP L.L.C. grew its position in Dover by 10.6% during the second 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 buying an additional 227,653 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in Dover by 717.4% in the 2nd quarter. First Trust Advisors LP now owns 1,716,256 shares of the industrial products company’s stock worth $314,470,000 after acquiring an additional 1,506,288 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Insider Transactions at Dover

In related news, SVP Ivonne M. Cabrera sold 2,630 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $190.80, for a total transaction of $501,804.00. Following the transaction, the senior vice president owned 72,968 shares in the company, valued at $13,922,294.40. The trade was a 3.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Christopher B. Woenker sold 1,627 shares of the stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $186.04, for a total value of $302,687.08. Following the completion of 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 5,757 shares of company stock worth $1,150,646. Company insiders own 1.30% of the company’s stock.

Dover Price Performance

Shares of Dover stock opened at $230.92 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28. Dover Corporation has a one year low of $143.04 and a one year high of $237.54. The business’s 50 day simple moving average is $204.51 and its two-hundred day simple moving average is $186.09. The stock has a market capitalization of $31.67 billion, a P/E ratio of 29.08, a price-to-earnings-growth ratio of 1.79 and a beta of 1.29.

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

Analysts Set New Price Targets

DOV has been the subject of several recent analyst reports. BNP Paribas Exane began coverage on Dover in a report on Thursday, December 4th. They set a “neutral” rating and a $195.00 price objective for the company. Citigroup reissued a “buy” rating on shares of Dover in a research note on Monday, January 12th. Royal Bank Of Canada raised their price objective 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. Oppenheimer lifted their price objective on shares of Dover from $228.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Dover in a research note on Monday, December 29th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, 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.