Ivonne Cabrera Sells 4,000 Shares of Dover (NYSE:DOV) Stock

Dover Corporation (NYSE:DOV) SVP Ivonne Cabrera sold 4,000 shares of the stock in a transaction 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 in the company, valued at $16,836,407.24. This trade represents a 5.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Dover Stock Up 0.0%

Shares of NYSE DOV opened at $232.12 on Friday. The business has a 50-day moving average of $208.34 and a two-hundred day moving average of $187.85. The company has a market capitalization of $31.31 billion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth ratio of 1.78 and a beta of 1.29. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $237.54. 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 (NYSE:DOV) last issued its earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share 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 business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $2.20 EPS. On average, analysts forecast that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, February 27th. This represents a $2.08 annualized dividend and a dividend yield of 0.9%. Dover’s dividend payout ratio is presently 26.20%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Barclays set a $206.00 price target on shares of Dover in a research report on Monday, February 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $224.00 target price on shares of Dover in a report on Saturday, January 31st. Weiss Ratings downgraded Dover from a “buy (b)” rating to a “hold (c+)” rating in a research note on Tuesday. UBS Group set a $256.00 price target on Dover and gave the stock a “buy” rating in a research report on Sunday, January 4th. Finally, JPMorgan Chase & Co. increased their price objective on Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Dover has an average rating of “Moderate Buy” and a consensus price target of $224.00.

Hedge Funds Weigh In On Dover

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Life Planners purchased a new position in Dover during the 3rd quarter worth $25,000. Meeder Asset Management Inc. increased its stake in shares of Dover by 234.2% during the fourth quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 89 shares during the period. AdvisorShares Investments LLC purchased a new position in Dover during the second quarter worth about $30,000. Tompkins Financial Corp lifted its position in Dover by 102.7% in the fourth quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 77 shares during the period. Finally, Vermillion & White Wealth Management Group LLC boosted its holdings in Dover by 122.4% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 93 shares in the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

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.