Insider Selling: Dover (NYSE:DOV) CFO Sells 1,627 Shares of Stock

by · The Cerbat Gem

Dover Corporation (NYSE:DOVGet Free Report) CFO Christopher Woenker sold 1,627 shares of the firm’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $186.04, for a total transaction of $302,687.08. Following the transaction, the chief financial officer owned 2,553 shares in the company, valued at $474,960.12. This represents a 38.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Dover Price Performance

DOV traded down $0.32 during trading on Monday, reaching $184.96. The stock had a trading volume of 958,853 shares, compared to its average volume of 1,078,590. The stock has a 50 day moving average of $174.36 and a two-hundred day moving average of $178.32. The company has a quick ratio of 1.44, a current ratio of 2.04 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $25.37 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 1.40 and a beta of 1.29. Dover Corporation has a 1-year low of $143.04 and a 1-year high of $222.31.

Dover (NYSE:DOVGet Free Report) last posted its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 EPS for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%.The company had revenue of $1.78 billion for the quarter. As a group, equities analysts anticipate that Dover Corporation will post 9.45 EPS for the current fiscal year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, November 28th. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. Dover’s dividend payout ratio (DPR) is 12.79%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Groupama Asset Managment lifted its position in Dover by 16.3% in the 3rd quarter. Groupama Asset Managment now owns 10,415 shares of the industrial products company’s stock worth $1,738,000 after buying an additional 1,458 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Dover by 3.7% in the third quarter. CIBC Private Wealth Group LLC now owns 22,757 shares of the industrial products company’s stock worth $3,797,000 after acquiring an additional 807 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Dover during the third quarter worth $3,156,000. Centaurus Financial Inc. boosted its position in Dover by 31.6% during the third quarter. Centaurus Financial Inc. now owns 796 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 191 shares during the last quarter. Finally, First Affirmative Financial Network grew its stake in Dover by 15.4% in the third quarter. First Affirmative Financial Network now owns 1,891 shares of the industrial products company’s stock valued at $316,000 after purchasing an additional 253 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DOV. Morgan Stanley boosted their target price on shares of Dover from $185.00 to $195.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Dover in a research report on Tuesday, November 25th. Royal Bank Of Canada upped their price target on Dover from $183.00 to $198.00 and gave the company a “sector perform” rating in a report on Friday, October 24th. Barclays raised their price objective on Dover from $190.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Friday, October 24th. Finally, Wells Fargo & Company lifted their target price on Dover from $180.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, October 24th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and a consensus price target of $212.27.

Read Our Latest Stock Report on DOV

About Dover

(Get Free Report)

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.

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