Key Points
- Ivonne Cabrera, Dover SVP, sold 4,000 shares at an average price of $233.23 on Feb 17 for about $932,920, reducing her stake by 5.25% to 72,188 shares (≈$16.84M).
- Dover beat quarterly estimates with EPS of $2.51 (vs. $2.48) and revenue of $2.10B, and announced a quarterly dividend of $0.52 per share (annualized $2.08, yield 0.9%) with an ex-dividend date of Feb 27.
- The stock trades near $231.88 with a 52-week range of $143.04–$237.54, a market cap of $31.27B, and an average analyst rating of “Moderate Buy” with a consensus target of $224.00.
Dover Corporation (NYSE:DOV - Get Free Report) SVP Ivonne Cabrera sold 4,000 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total transaction of $932,920.00. Following the sale, the senior vice president directly owned 72,188 shares of the company's stock, valued at approximately $16,836,407.24. The trade was a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Dover Trading Down 0.6%
NYSE DOV opened at $231.88 on Thursday. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $237.54. The company has a 50 day moving average price of $207.72 and a 200 day moving average price of $187.54. 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 firm has a market cap of $31.27 billion, a PE ratio of 29.20, a price-to-earnings-growth ratio of 1.79 and a beta of 1.29.
Dover (NYSE:DOV - Get Free Report) last announced its earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.03. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.09 billion. Dover had a net margin of 13.52% and a return on equity of 17.87%. Dover's revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm earned $2.20 earnings per share. As a group, sell-side analysts forecast that Dover Corporation will post 9.45 EPS for the current fiscal year.
Dover Announces Dividend
The firm also recently announced 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 yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th. Dover's dividend payout ratio is currently 26.20%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on DOV shares. Royal Bank Of Canada boosted their price target on Dover from $199.00 to $209.00 and gave the stock a "sector perform" rating in a research note on Friday, January 30th. Weiss Ratings cut shares of Dover from a "buy (b)" rating to a "hold (c+)" rating in a research note on Tuesday. Citigroup restated a "buy" rating on shares of Dover in a research note on Monday, January 12th. Robert W. Baird set a $255.00 price target on shares of Dover in a research note on Friday, January 30th. Finally, Wall Street Zen downgraded shares of Dover from a "buy" rating to a "hold" rating in a research note on Saturday, November 8th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $224.00.
Read Our Latest Report on Dover
Institutional Trading of Dover
Several large investors have recently made changes to their positions in DOV. Brighton Jones LLC raised its holdings in shares of Dover by 62.1% during the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company's stock worth $552,000 after purchasing an additional 1,128 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 worth $2,526,000 after purchasing an additional 676 shares during the period. Empowered Funds LLC raised its stake in shares of Dover by 11.8% during the 1st quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company's stock valued at $2,636,000 after buying an additional 1,580 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Dover in the 2nd quarter valued at about $488,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Dover by 4.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 13,198 shares of the industrial products company's stock worth $2,457,000 after buying an additional 576 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.
Dover Company Profile
(
Get Free Report)
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.
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