CSM Advisors LLC Sells 32,837 Shares of Dover Corporation $DOV

CSM Advisors LLC lowered its position in shares of Dover Corporation (NYSE:DOV) by 66.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 16,260 shares of the industrial products company’s stock after selling 32,837 shares during the period. CSM Advisors LLC’s holdings in Dover were worth $2,714,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Mission Wealth Management LP boosted its stake in Dover by 0.8% in the third quarter. Mission Wealth Management LP now owns 7,493 shares of the industrial products company’s stock valued at $1,250,000 after acquiring an additional 58 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of Dover by 4.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,513 shares of the industrial products company’s stock valued at $252,000 after purchasing an additional 59 shares during the last quarter. Cobblestone Capital Advisors LLC NY lifted its holdings in shares of Dover by 2.3% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 2,774 shares of the industrial products company’s stock valued at $463,000 after purchasing an additional 62 shares during the last quarter. Certuity LLC grew its stake in Dover by 2.5% during the 2nd quarter. Certuity LLC now owns 2,587 shares of the industrial products company’s stock worth $474,000 after buying an additional 64 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its position in Dover by 4.4% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 1,517 shares of the industrial products company’s stock valued at $253,000 after buying an additional 64 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Girish Juneja sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $230.77, for a total transaction of $346,155.00. Following the completion of the sale, the vice president directly owned 8,422 shares in the company, valued at approximately $1,943,544.94. This trade represents a 15.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Ivonne M. Cabrera sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total transaction of $932,920.00. Following the sale, the senior vice president owned 72,188 shares of the company’s stock, valued at $16,836,407.24. This represents a 5.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 82,497 shares of company stock valued at $19,196,277. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Oppenheimer raised their price target on Dover from $228.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $224.00 price objective on shares of Dover in a report on Saturday, January 31st. JPMorgan Chase & Co. increased their price objective on shares of Dover from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. BNP Paribas Exane assumed coverage on shares of Dover in a research report on Thursday, December 4th. They set a “neutral” rating and a $195.00 target price for the company. Finally, Wall Street Zen raised shares of Dover from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $224.00.

Dover Price Performance

Dover stock opened at $207.43 on Tuesday. The stock has a market capitalization of $27.98 billion, a P/E ratio of 26.13, a P/E/G ratio of 1.57 and a beta of 1.27. The company’s fifty day moving average price is $215.21 and its 200 day moving average price is $192.77. 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 1 year low of $143.04 and a 1 year high of $237.54.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.48 by $0.03. Dover had a return on equity of 17.87% and a net margin of 13.52%.The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the previous year, the business earned $2.20 EPS. Dover’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, equities research analysts anticipate 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 was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, February 27th. Dover’s payout ratio is currently 26.20%.

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.