Dover (NYSE:DOV) CEO Richard Tobin Sells 86,440 Shares of Company Stock

Dover Corporation (NYSE:DOV) CEO Richard Tobin sold 86,440 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $214.86, for a total value of $18,572,498.40. Following the completion of the transaction, the chief executive officer owned 212,855 shares in the company, valued at approximately $45,734,025.30. This trade represents a 28.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Dover Trading Down 1.2%

Shares of NYSE DOV traded down $2.55 during midday trading on Tuesday, hitting $213.36. The stock had a trading volume of 1,444,064 shares, compared to its average volume of 1,175,551. The company has a fifty day moving average price of $194.24 and a 200 day moving average price of $209.64. The company has a quick ratio of 1.37, a current ratio of 1.95 and a debt-to-equity ratio of 0.34. Dover Corporation has a 1-year low of $176.40 and a 1-year high of $237.54. The company has a market capitalization of $28.38 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 1.79 and a beta of 1.10.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, October 22nd. The industrial products company reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $0.03. Dover had a return on equity of 18.68% and a net margin of 13.60%. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.22 billion. During the same quarter in the previous year, the firm posted $2.62 earnings per share. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. On average, analysts predict that Dover Corporation will post 10.72 earnings per share for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were issued a dividend of $0.5250 per share. This represents a $2.10 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, August 31st. This is an increase from Dover’s previous quarterly dividend of $0.52. Dover’s dividend payout ratio (DPR) is 24.48%.

Institutional Trading of Dover

Hedge funds and other institutional investors have recently modified their holdings of the business. Clearstead Trust LLC acquired a new stake in Dover during the second quarter valued at approximately $30,000. Keating Financial Advisory Services Inc. acquired a new position in Dover in the second quarter worth approximately $34,000. William Mack & Associates Inc. acquired a new position in Dover in the third quarter worth approximately $29,000. Kelleher Financial Advisors bought a new position in shares of Dover in the second quarter valued at $38,000. Finally, Quest 10 Wealth Builders Inc. increased its holdings in shares of Dover by 105.1% in the third quarter. Quest 10 Wealth Builders Inc. now owns 203 shares of the industrial products company’s stock valued at $38,000 after buying an additional 104 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their price target on Dover from $229.00 to $233.00 and gave the stock an “overweight” rating in a report on Friday, October 23rd. Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Mizuho reduced their target price on shares of Dover from $270.00 to $245.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Robert W. Baird set a $258.00 target price on shares of Dover in a research note on Friday, October 23rd. Finally, Citigroup upped their target price on shares of Dover from $266.00 to $268.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $238.60.

Dover Company Profile

Dover Corporation (NYSE: DOV) is a diversified manufacturer that develops and produces specialized equipment, components and engineered systems for industrial and commercial customers. Its businesses serve markets including fluid handling, equipment manufacturing, clean energy, fueling, refrigeration, heating and cooling, printing, and vehicle service.

The company’s products include pumps, compressors, controls, dispensing and fueling equipment, refrigeration systems, heat-transfer technologies, industrial machinery, vehicle lifts and service equipment, and components used in engineered industrial applications.