Dover Corporation $DOV Shares Sold by Swiss National Bank

Swiss National Bank reduced its position in shares of Dover Corporation (NYSE:DOV) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 395,200 shares of the industrial products company’s stock after selling 19,700 shares during the quarter. Swiss National Bank owned about 0.29% of Dover worth $65,931,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of DOV. Vermillion & White Wealth Management Group LLC boosted its stake in Dover by 122.4% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock valued at $31,000 after buying an additional 93 shares in the last quarter. Caldwell Trust Co bought a new stake in Dover in the second quarter worth about $31,000. Westside Investment Management Inc. lifted its holdings in Dover by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 114 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in Dover by 371.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 264 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 208 shares during the last quarter. Finally, Davis Capital Management bought a new position in shares of Dover during the 3rd quarter valued at about $44,000. Institutional investors own 84.46% of the company’s stock.

Insider Transactions at Dover

In related news, SVP Ivonne M. Cabrera sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total transaction of $932,920.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Girish Juneja sold 1,500 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total transaction of $346,155.00. Following the completion of the sale, the vice president owned 8,422 shares of the company’s stock, valued at approximately $1,943,544.94. The trade was a 15.12% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 82,497 shares of company stock valued at $19,196,277 over the last three months. 1.30% of the stock is owned by corporate insiders.

Dover Price Performance

DOV opened at $210.27 on Thursday. The firm has a market capitalization of $28.36 billion, a P/E ratio of 26.48, a PEG ratio of 1.61 and a beta of 1.27. The stock has a fifty day moving average of $214.77 and a 200-day moving average of $192.21. The company has a quick ratio of 1.28, a current ratio of 1.79 and a debt-to-equity ratio of 0.35. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $237.54.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.09 billion. Dover had a return on equity of 17.87% and a net margin of 13.52%.Dover’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.20 earnings per share. Equities analysts forecast that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a $0.52 dividend. The ex-dividend date is Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. Dover’s dividend payout ratio is currently 26.20%.

Analyst Ratings Changes

DOV has been the topic of a number of research reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $224.00 target price on shares of Dover in a report on Saturday, January 31st. Weiss Ratings raised Dover from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 6th. Oppenheimer increased their price objective on Dover from $228.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, January 26th. BNP Paribas Exane started coverage on Dover in a research note on Thursday, December 4th. They set a “neutral” rating and a $195.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on Dover from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and an average price target of $224.00.

Dover 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.