Woodley Farra Manion Portfolio Management Inc. Cuts Position in Dover Corporation $DOV

Woodley Farra Manion Portfolio Management Inc. trimmed its holdings in shares of Dover Corporation (NYSE:DOV) by 1.6% in the third quarter, Holdings Channel reports. The firm owned 348,704 shares of the industrial products company’s stock after selling 5,770 shares during the period. Dover makes up 2.7% of Woodley Farra Manion Portfolio Management Inc.’s portfolio, making the stock its 17th biggest position. Woodley Farra Manion Portfolio Management Inc.’s holdings in Dover were worth $58,174,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AdvisorShares Investments LLC acquired a new position in shares of Dover in the 2nd quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC boosted its stake in Dover by 122.4% in 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 acquiring an additional 93 shares during the period. Caldwell Trust Co acquired a new stake in Dover in the second quarter worth $31,000. Harbour Investments Inc. boosted its holdings in shares of Dover by 51.7% during the second quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 60 shares during the period. Finally, Westside Investment Management Inc. grew its position in shares of Dover by 100.0% during the third quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 114 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Ivonne M. 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 completion of the sale, the senior vice president directly owned 72,188 shares in the company, valued at approximately $16,836,407.24. This trade represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Girish Juneja sold 1,500 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total transaction of $346,155.00. Following the sale, the vice president directly owned 8,422 shares in the company, valued at approximately $1,943,544.94. This represents a 15.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 9,757 shares of company stock valued at $2,083,566. 1.30% of the stock is currently owned by insiders.

Dover Stock Up 1.7%

Shares of DOV traded up $3.85 during trading hours on Friday, hitting $236.37. 38,216 shares of the company were exchanged, compared to its average volume of 1,365,974. The firm’s 50 day moving average is $208.34 and its 200-day moving average is $187.85. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $237.54. The company has a market cap of $31.88 billion, a PE ratio of 29.45, a PEG ratio of 1.78 and a beta of 1.29.

Dover (NYSE:DOV) last announced 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. 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 firm posted $2.20 earnings per share. Dover’s revenue was up 8.8% compared to the same quarter last year. On average, equities research analysts forecast that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, February 27th. Dover’s dividend payout ratio is 26.20%.

Wall Street Analysts Forecast Growth

DOV has been the topic of several analyst reports. Morgan Stanley set a $210.00 price target on shares of Dover in a research note on Wednesday, February 4th. BNP Paribas Exane initiated coverage on shares of Dover in a research report on Thursday, December 4th. They issued a “neutral” rating and a $195.00 target price for the company. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $224.00 price target on shares of Dover in a research note on Saturday, January 31st. Citigroup restated a “buy” rating on shares of Dover in a report on Monday, January 12th. Finally, Weiss Ratings downgraded shares of Dover from a “buy (b)” rating to a “hold (c+)” rating in a report on Tuesday. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $224.00.

Dover 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.