HighTower Advisors LLC Sells 3,892 Shares of Dover Corporation $DOV

HighTower Advisors LLC cut its holdings in shares of Dover Corporation (NYSE:DOV) by 4.4% during the third quarter, HoldingsChannel.com reports. The firm owned 85,461 shares of the industrial products company’s stock after selling 3,892 shares during the quarter. HighTower Advisors LLC’s holdings in Dover were worth $14,258,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of DOV. AdvisorShares Investments LLC acquired a new position in Dover in the second quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC raised its position in shares of 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 valued at $31,000 after acquiring an additional 93 shares during the last quarter. Caldwell Trust Co acquired a new position in shares of Dover in the 2nd quarter valued at $31,000. Harbour Investments Inc. boosted its position in shares of Dover by 51.7% in the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 60 shares during the last quarter. Finally, Westside Investment Management Inc. grew its stake 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 purchasing an additional 114 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Price Performance

NYSE DOV opened at $233.12 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79. The stock has a market cap of $31.44 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 1.78 and a beta of 1.29. The business has a 50 day simple moving average of $209.02 and a 200 day simple moving average of $188.25. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $237.54.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share 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 firm 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. The business’s revenue was up 8.8% on a year-over-year basis. Analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be issued a dividend of $0.52 per share. 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

Several research firms have weighed in on DOV. JPMorgan Chase & Co. increased their target price on Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Barclays set a $206.00 price target on Dover in a research note on Monday, February 2nd. Oppenheimer lifted their price objective on shares of Dover from $228.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, January 26th. Robert W. Baird set a $255.00 price objective on shares of Dover in a report on Friday, January 30th. Finally, BNP Paribas Exane initiated coverage on shares of Dover in a report on Thursday, December 4th. They issued a “neutral” rating and a $195.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $224.00.

Insider Transactions at Dover

In other news, VP Girish Juneja sold 1,500 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total value of $346,155.00. Following the sale, the vice president directly owned 8,422 shares in the company, valued at $1,943,544.94. The trade was a 15.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard J. Tobin sold 76,997 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $232.70, for a total value of $17,917,201.90. Following the transaction, the chief executive officer directly owned 217,979 shares of the company’s stock, valued at $50,723,713.30. This represents a 26.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 86,754 shares of company stock worth $20,000,768. Company insiders own 1.30% of the company’s stock.

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.