Ivonne M. Cabrera Sells 1,220 Shares of Dover Co. (NYSE:DOV) Stock

Dover Co. (NYSE:DOV) SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the transaction, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Dover Price Performance

NYSE:DOV opened at $186.03 on Friday. Dover Co. has a 52 week low of $127.25 and a 52 week high of $192.31. The stock’s fifty day moving average is $180.50 and its two-hundred day moving average is $177.45. The company has a market capitalization of $25.57 billion, a P/E ratio of 17.87, a P/E/G ratio of 2.13 and a beta of 1.22. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55.

Dover (NYSE:DOV) last posted its earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. Dover’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 earnings per share. Equities analysts expect that Dover Co. will post 9.15 EPS for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio (DPR) is 19.79%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Dover by 153.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock valued at $466,622,000 after buying an additional 1,595,611 shares during the period. Norges Bank acquired a new position in Dover in the 4th quarter valued at about $175,275,000. Franklin Resources Inc. increased its stake in Dover by 15.4% during the fourth quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock worth $567,426,000 after purchasing an additional 492,577 shares during the period. American Century Companies Inc. lifted its position in shares of Dover by 162.2% during the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock worth $124,195,000 after purchasing an additional 425,768 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Dover by 50.7% in the fourth quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock valued at $189,433,000 after purchasing an additional 414,481 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Mizuho boosted their target price on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Robert W. Baird restated an “outperform” rating and issued a $208.00 target price on shares of Dover in a report on Monday, July 22nd. Finally, Royal Bank of Canada raised their target price on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $192.63.

Dover Company Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.