Dover Corporation $DOV Position Decreased by Beck Mack & Oliver LLC

Beck Mack & Oliver LLC reduced its holdings in Dover Corporation (NYSE:DOV) by 18.3% during the second quarter, Holdings Channel reports. The firm owned 54,608 shares of the industrial products company’s stock after selling 12,240 shares during the period. Beck Mack & Oliver LLC’s holdings in Dover were worth $10,006,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Dover by 1.4% during 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 acquiring an additional 231,146 shares during the last quarter. State Street Corp raised its position in shares of Dover by 2.7% during 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 purchasing an additional 171,934 shares during the period. Geode Capital Management LLC boosted its position in shares of Dover by 1.0% in the 2nd quarter. Geode Capital Management LLC now owns 3,453,121 shares of the industrial products company’s stock valued at $629,996,000 after purchasing an additional 33,539 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in 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 buying an additional 227,653 shares during the period. Finally, First Trust Advisors LP lifted its stake in Dover by 717.4% during the second quarter. First Trust Advisors LP now owns 1,716,256 shares of the industrial products company’s stock valued at $314,470,000 after buying an additional 1,506,288 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Trading Down 1.0%

Shares of NYSE DOV opened at $199.18 on Friday. The stock has a market cap of $27.32 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 1.56 and a beta of 1.31. The business has a 50 day simple moving average of $179.34 and a 200 day simple moving average of $179.08. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.44 and a current ratio of 2.04. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31.

Dover (NYSE:DOV) last posted its earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. The firm had revenue of $1.78 billion during the quarter. On average, research analysts predict that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. Dover’s payout ratio is currently 12.79%.

Insider Activity

In other news, CFO Christopher B. Woenker sold 1,627 shares of Dover stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $186.04, for a total value of $302,687.08. Following the transaction, the chief financial officer owned 2,553 shares of the company’s stock, valued at $474,960.12. This trade represents a 38.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Ivonne M. Cabrera sold 2,630 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $190.80, for a total transaction of $501,804.00. Following the sale, the senior vice president directly owned 72,968 shares of the company’s stock, valued at approximately $13,922,294.40. This represents a 3.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. BNP Paribas initiated coverage on shares of Dover in a report on Thursday, December 4th. They set a “neutral” rating and a $195.00 price target on the stock. Oppenheimer boosted their target price on shares of Dover from $225.00 to $228.00 and gave the company an “outperform” rating in a research note on Friday, November 14th. Royal Bank Of Canada lifted their price target on Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a report on Friday, October 24th. JPMorgan Chase & Co. increased their price objective on Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Finally, Wells Fargo & Company upped their target price on Dover from $180.00 to $190.00 and gave the company an “equal weight” rating in a report on Friday, October 24th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.73.

Dover Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.