Insider Selling: Dover (NYSE:DOV) CEO Sells 76,997 Shares of Stock

Dover Corporation (NYSE:DOV) CEO Richard Tobin sold 76,997 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $232.70, for a total value of $17,917,201.90. Following the sale, the chief executive officer owned 217,979 shares in the company, valued at approximately $50,723,713.30. The trade was a 26.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Dover Stock Up 0.3%

NYSE:DOV traded up $0.60 during mid-day trading on Friday, hitting $233.12. 1,421,699 shares of the company’s stock were exchanged, compared to its average volume of 1,407,732. Dover Corporation has a one year low of $143.04 and a one year high of $237.54. The business has a fifty day moving average price of $208.34 and a 200 day moving average price of $187.85. The company has a market cap of $31.44 billion, a PE ratio of 29.36, a P/E/G ratio of 1.78 and a beta of 1.29. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) 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 company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the firm posted $2.20 EPS. Dover’s revenue for the quarter was up 8.8% compared to the same quarter last year. Equities analysts predict that Dover Corporation will post 9.45 EPS for the current year.

Dover Dividend Announcement

The business also recently declared 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. This represents a $2.08 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, February 27th. Dover’s dividend payout ratio is 26.20%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DOV. UBS Group set a $256.00 target price on shares of Dover and gave the stock a “buy” rating in a research report on Sunday, January 4th. Robert W. Baird set a $255.00 price objective on shares of Dover in a research note on Friday, January 30th. Wall Street Zen lowered shares of Dover from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. 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. Finally, Wells Fargo & Company raised their target price on shares of Dover from $205.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $224.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC boosted its holdings in Dover by 62.1% in the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock valued at $552,000 after acquiring an additional 1,128 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Dover by 4.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,377 shares of the industrial products company’s stock valued at $2,526,000 after purchasing an additional 676 shares during the last quarter. Empowered Funds LLC increased its position in Dover by 11.8% during the 1st quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company’s stock worth $2,636,000 after buying an additional 1,580 shares during the period. Sivia Capital Partners LLC acquired a new position in Dover in the second quarter valued at about $488,000. Finally, Harbour Investments Inc. raised its holdings in shares of Dover by 51.7% during the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock worth $32,000 after buying an additional 60 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

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.