Insider Selling: Dover (NYSE:DOV) SVP Sells 2,630 Shares of Stock

by · The Cerbat Gem

Dover Corporation (NYSE:DOV – Get Free Report) SVP Ivonne Cabrera sold 2,630 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total value of $501,804.00. Following the sale, the senior vice president owned 72,968 shares in the company, valued at approximately $13,922,294.40. The trade was a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Dover Price Performance

NYSE DOV traded up $0.29 during trading hours on Friday, hitting $190.93. The company had a trading volume of 770,713 shares, compared to its average volume of 1,076,966. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.44 and a current ratio of 2.04. The firm has a market capitalization of $26.19 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 1.48 and a beta of 1.31. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $222.31. The firm has a 50 day simple moving average of $175.99 and a 200 day simple moving average of $178.50.

Dover (NYSE:DOV – Get Free Report) last announced its quarterly earnings results on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. Dover had a return on equity of 17.62% and a net margin of 28.37%.The firm had revenue of $1.78 billion for the quarter. Equities research analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be paid a $0.52 dividend. The ex-dividend date is Friday, November 28th. This represents a $2.08 annualized dividend and a yield of 1.1%. Dover’s dividend payout ratio is currently 12.79%.

Hedge Funds Weigh In On Dover

A number of large investors have recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in Dover by 62.1% during the fourth quarter. Brighton Jones LLC now owns 2,944 shares of the industrial products company’s stock valued at $552,000 after buying an additional 1,128 shares during the period. Cary Street Partners Financial LLC lifted its stake in shares of Dover by 3.8% in the 1st quarter. Cary Street Partners Financial LLC now owns 6,500 shares of the industrial products company’s stock valued at $1,142,000 after acquiring an additional 236 shares during the last quarter. Costello Asset Management INC purchased a new stake in Dover during the 1st quarter valued at about $35,000. Wealthspire Advisors LLC grew its position in Dover by 1.4% during the 1st quarter. Wealthspire Advisors LLC now owns 8,700 shares of the industrial products company’s stock worth $1,528,000 after acquiring an additional 121 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Dover by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 16,342,135 shares of the industrial products company’s stock worth $2,870,986,000 after purchasing an additional 106,679 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DOV. Weiss Ratings restated a “hold (c+)” rating on shares of Dover in a research report on Monday. Robert W. Baird set a $235.00 target price on Dover in a research report on Friday, October 24th. Oppenheimer raised their price target on Dover from $225.00 to $228.00 and gave the company an “outperform” rating in a report on Friday, November 14th. Wall Street Zen lowered Dover from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Wells Fargo & Company raised their target price on shares of Dover from $180.00 to $190.00 and gave the company an “equal weight” rating in a research note on Friday, October 24th. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Dover currently has an average rating of “Hold” and an average price target of $210.83.

Check Out Our Latest Report on DOV

Dover Company Profile

(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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