Insider Selling: Dover (NYSE:DOV) SVP Sells $932,920.00 in Stock

Dover Corporation (NYSE:DOV) SVP Ivonne Cabrera sold 4,000 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total value of $932,920.00. Following the sale, the senior vice president directly owned 72,188 shares of the company’s stock, valued at approximately $16,836,407.24. This represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Dover Trading Down 0.6%

Shares of Dover stock traded down $1.37 on Wednesday, reaching $231.88. 1,392,793 shares of the company were exchanged, compared to its average volume of 1,421,023. 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 fifty-two week low of $143.04 and a fifty-two week high of $237.54. The firm has a market capitalization of $31.80 billion, a price-to-earnings ratio of 29.20, a price-to-earnings-growth ratio of 1.78 and a beta of 1.29. The stock has a fifty day moving average price of $206.99 and a 200-day moving average price of $187.23.

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

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th. Dover’s payout ratio is presently 26.20%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Oppenheimer lifted their price objective on Dover from $228.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. UBS Group set a $256.00 price objective on Dover and gave the company a “buy” rating in a research report on Sunday, January 4th. Citigroup reaffirmed a “buy” rating on shares of Dover in a research note on Monday, January 12th. Finally, Weiss Ratings downgraded shares of Dover from a “buy (b)” rating to a “hold (c+)” rating in a research report on Tuesday. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

Hedge Funds Weigh In On Dover

Institutional investors and hedge funds have recently modified their holdings of the stock. Financial Life Planners bought a new position in Dover in the third quarter valued at approximately $25,000. Meeder Asset Management Inc. increased its holdings 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 buying an additional 89 shares in the last quarter. AdvisorShares Investments LLC acquired a new position in Dover in the 2nd quarter worth about $30,000. Tompkins Financial Corp increased its stake in shares of 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 buying an additional 77 shares during the period. Finally, Vermillion & White Wealth Management Group LLC grew its holdings in Dover by 122.4% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 93 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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.