Dover Corporation $DOV Stock Holdings Lessened by Woodley Farra Manion Portfolio Management Inc.

Woodley Farra Manion Portfolio Management Inc. cut its stake in shares of Dover Corporation (NYSE:DOV) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 338,078 shares of the industrial products company’s stock after selling 3,999 shares during the period. Dover accounts for 3.2% of Woodley Farra Manion Portfolio Management Inc.’s holdings, making the stock its 8th largest position. Woodley Farra Manion Portfolio Management Inc. owned about 0.25% of Dover worth $63,238,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Cornerstone Wealth Management LLC grew its position in Dover by 3.8% during the third quarter. Cornerstone Wealth Management LLC now owns 32,614 shares of the industrial products company’s stock worth $6,100,000 after buying an additional 1,208 shares in the last quarter. AlphaCore Capital LLC increased its stake in Dover by 236.2% during the 3rd quarter. AlphaCore Capital LLC now owns 6,291 shares of the industrial products company’s stock worth $1,177,000 after acquiring an additional 4,420 shares during the period. StoneX Group Inc. acquired a new position in Dover in the 3rd quarter valued at $271,000. Ashton Thomas Private Wealth LLC raised its holdings in Dover by 19.3% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,989 shares of the industrial products company’s stock valued at $559,000 after acquiring an additional 484 shares in the last quarter. Finally, Heritage Family Offices LLP bought a new stake in shares of Dover during the 3rd quarter valued at $46,000. Institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Weiss Ratings lowered shares of Dover from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, September 2nd. Wells Fargo & Company boosted their target price on shares of Dover from $229.00 to $233.00 and gave the company an “overweight” rating in a research report on Friday, October 23rd. Robert W. Baird set a $258.00 price target on shares of Dover in a report on Friday, October 23rd. Royal Bank Of Canada increased their price target on shares of Dover from $216.00 to $219.00 and gave the stock a “sector perform” rating in a research report on Friday, October 23rd. Finally, Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $238.60.

Dover Stock Down 0.5%

Shares of NYSE DOV opened at $211.90 on Wednesday. The company has a 50 day simple moving average of $195.28 and a 200 day simple moving average of $209.74. The firm has a market cap of $28.19 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 1.83 and a beta of 1.10. Dover Corporation has a 1 year low of $177.87 and a 1 year high of $237.54. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.95 and a quick ratio of 1.37.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, October 22nd. The industrial products company reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.03. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.22 billion. Dover had a return on equity of 18.68% and a net margin of 13.60%. Dover’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.62 earnings per share. On average, research analysts forecast that Dover Corporation will post 10.73 EPS for the current year.

Dover Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be given a dividend of $0.5250 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $2.10 dividend on an annualized basis and a yield of 1.0%. Dover’s dividend payout ratio is 24.48%.

Insider Buying and Selling

In other news, CEO Richard Tobin sold 86,440 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $214.86, for a total transaction of $18,572,498.40. Following the completion of the sale, the chief executive officer owned 212,855 shares of the company’s stock, valued at $45,734,025.30. This trade represents a 28.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.10% of the company’s stock.

Dover Profile

Dover Corporation is a diversified manufacturer of equipment and components for industrial and commercial markets. Founded in 1955, the company has grown through a combination of product development and acquisitions and serves customers around the world. Dover’s businesses operate across areas including engineered products, clean energy and fueling, imaging and identification, pumps and process solutions, and climate and sustainability technologies. Its products include fueling and vehicle-service equipment, pumps and fluid-handling systems, packaging and marking equipment, and components used in industrial and commercial applications.