Ceredex Value Advisors LLC Trims Stake in Dover Corporation $DOV

Ceredex Value Advisors LLC lessened its position in Dover Corporation (NYSE:DOV) by 22.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 132,650 shares of the industrial products company’s stock after selling 38,100 shares during the period. Ceredex Value Advisors LLC’s holdings in Dover were worth $22,130,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Mission Wealth Management LP raised its position in Dover by 0.8% in the 3rd quarter. Mission Wealth Management LP now owns 7,493 shares of the industrial products company’s stock worth $1,250,000 after purchasing an additional 58 shares during the period. Pinnacle Wealth Management Advisory Group LLC boosted its position in shares of Dover by 4.9% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,282 shares of the industrial products company’s stock valued at $235,000 after buying an additional 60 shares during the period. Cobblestone Capital Advisors LLC NY grew its stake in shares of Dover by 2.3% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 2,774 shares of the industrial products company’s stock valued at $463,000 after buying an additional 62 shares during the last quarter. Certuity LLC grew its stake in shares of Dover by 2.5% during the second quarter. Certuity LLC now owns 2,587 shares of the industrial products company’s stock valued at $474,000 after buying an additional 64 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its holdings in shares of Dover by 4.4% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 1,517 shares of the industrial products company’s stock worth $253,000 after buying an additional 64 shares during the period. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Performance

Shares of DOV stock opened at $210.82 on Tuesday. The firm has a market cap of $28.43 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 1.60 and a beta of 1.26. Dover Corporation has a 52-week low of $143.04 and a 52-week high of $237.54. The company has a quick ratio of 1.28, a current ratio of 1.79 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $214.22 and its 200 day moving average is $191.89.

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, beating 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 business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter last year, the firm earned $2.20 EPS. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, sell-side analysts anticipate that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. Dover’s dividend payout ratio (DPR) is presently 26.20%.

Insider Buying and Selling at Dover

In other Dover news, VP Girish Juneja sold 1,500 shares of Dover 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 transaction, the vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard J. Tobin sold 76,997 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the sale, the chief executive officer directly owned 217,979 shares of the company’s stock, valued at approximately $50,723,713.30. The trade was a 26.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 82,497 shares of company stock worth $19,196,277 over the last quarter. Insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Citigroup reissued a “buy” rating on shares of Dover in a research note on Monday, January 12th. Royal Bank Of Canada upped their price objective on Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a research report on Friday, January 30th. Wall Street Zen upgraded Dover from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Barclays set a $206.00 target price on shares of Dover in a research note on Monday, February 2nd. Finally, Morgan Stanley set a $210.00 price target on shares of Dover in a report on Wednesday, February 4th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

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.