Earnest Partners LLC Reduces Holdings in Dover Corporation $DOV

Earnest Partners LLC cut its position in Dover Corporation (NYSE:DOV) by 2.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 402,016 shares of the industrial products company’s stock after selling 8,433 shares during the quarter. Earnest Partners LLC’s holdings in Dover were worth $67,068,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in Dover by 62.1% in the 4th quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock worth $552,000 after buying an additional 1,128 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Dover by 4.9% during the first 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 acquiring an additional 676 shares in the last quarter. Empowered Funds LLC increased its position in shares of Dover by 11.8% during the first quarter. Empowered Funds LLC now owns 15,006 shares of the industrial products company’s stock worth $2,636,000 after acquiring an additional 1,580 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Dover during the second quarter worth about $488,000. Finally, Prospera Financial Services Inc lifted its stake in shares of Dover by 40.0% in the second quarter. Prospera Financial Services Inc now owns 2,311 shares of the industrial products company’s stock worth $425,000 after acquiring an additional 660 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DOV has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on Dover from $205.00 to $210.00 and gave the company an “equal weight” rating in a research note on Friday, January 30th. BNP Paribas Exane assumed coverage on Dover in a research report on Thursday, December 4th. They issued a “neutral” rating and a $195.00 target price on the stock. Royal Bank Of Canada increased their target price on Dover from $199.00 to $209.00 and gave the company a “sector perform” rating in a research note on Friday, January 30th. Morgan Stanley set a $210.00 price target on shares of Dover in a research note on Wednesday, February 4th. Finally, Citigroup reaffirmed a “buy” rating on shares of Dover in a report on Monday, January 12th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $224.00.

Dover Price Performance

Shares of NYSE DOV opened at $203.91 on Monday. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $27.50 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 1.57 and a beta of 1.26. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $237.54. The business has a 50 day simple moving average of $215.11 and a 200-day simple moving average of $192.59.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the business posted $2.20 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. As a group, equities research analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

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

Insider Buying and Selling

In related news, VP Girish Juneja sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $230.77, for a total value of $346,155.00. Following the sale, the vice president owned 8,422 shares of the company’s stock, valued at approximately $1,943,544.94. This trade represents a 15.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard J. Tobin sold 76,997 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 217,979 shares of the company’s stock, valued at $50,723,713.30. This represents a 26.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 82,497 shares of company stock worth $19,196,277 over the last quarter. 1.20% of the stock is owned by company insiders.

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.