Dover Corporation $DOV Shares Sold by Earnest Partners LLC

Earnest Partners LLC cut its holdings in Dover Corporation (NYSE:DOV) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 402,016 shares of the industrial products company’s stock after selling 8,433 shares during the period. Earnest Partners LLC owned 0.29% of Dover worth $67,068,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Brevan Howard Capital Management LP increased its stake in Dover by 1.9% in the third quarter. Brevan Howard Capital Management LP now owns 43,971 shares of the industrial products company’s stock valued at $7,336,000 after purchasing an additional 812 shares during the last quarter. Cannell & Spears LLC boosted its stake in Dover by 104.5% in the 3rd quarter. Cannell & Spears LLC now owns 45,857 shares of the industrial products company’s stock worth $7,650,000 after buying an additional 23,430 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in Dover by 38.2% in the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,128 shares of the industrial products company’s stock valued at $689,000 after buying an additional 1,142 shares during the period. Bridgefront Capital LLC grew its holdings in Dover by 1.9% in the 3rd quarter. Bridgefront Capital LLC now owns 8,793 shares of the industrial products company’s stock valued at $1,467,000 after buying an additional 161 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Dover by 4.1% during the 3rd quarter. California Public Employees Retirement System now owns 251,689 shares of the industrial products company’s stock valued at $41,989,000 after acquiring an additional 10,020 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Oppenheimer raised their target price on shares of Dover from $228.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Weiss Ratings raised shares of Dover from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 6th. Morgan Stanley set a $210.00 price target on shares of Dover in a report on Wednesday, February 4th. Wells Fargo & Company boosted their price objective on shares of Dover from $205.00 to $210.00 and gave the company an “equal weight” rating in a research note on Friday, January 30th. Finally, Robert W. Baird set a $255.00 price objective on Dover in a report on Friday, January 30th. Eight investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $224.00.

Insider Activity at Dover

In other Dover news, CEO Richard J. Tobin sold 76,997 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $232.70, for a total value of $17,917,201.90. Following the transaction, the chief executive officer directly owned 217,979 shares of the company’s stock, valued at $50,723,713.30. This trade represents a 26.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Ivonne M. Cabrera sold 4,000 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total value of $932,920.00. Following the transaction, the senior vice president owned 72,188 shares in the company, valued at approximately $16,836,407.24. This represents a 5.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 82,497 shares of company stock worth $19,196,277. Corporate insiders own 1.20% of the company’s stock.

Dover Stock Up 0.1%

DOV opened at $203.91 on Monday. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $237.54. The firm has a 50 day moving average price of $215.11 and a 200 day moving average price of $192.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.79. The company has a market cap of $27.50 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 1.57 and a beta of 1.26.

Dover (NYSE:DOV) last released 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 net margin of 13.52% and a return on equity of 17.87%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the firm earned $2.20 earnings per share. Dover’s revenue for the quarter was up 8.8% on a year-over-year basis. Sell-side analysts expect that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Announces Dividend

The firm also recently declared 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 yield of 1.0%. The ex-dividend date of this dividend was Friday, February 27th. Dover’s dividend payout ratio is 26.20%.

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.