Dover Corporation $DOV Stock: Woodley Farra Manion Portfolio Management Inc. Cuts Position

Woodley Farra Manion Portfolio Management Inc. cut its holdings in Dover Corporation (NYSE:DOV) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 338,078 shares of the industrial products company’s stock after selling 3,999 shares during the period. Dover comprises about 3.2% of Woodley Farra Manion Portfolio Management Inc.’s holdings, making the stock its 8th biggest position. Woodley Farra Manion Portfolio Management Inc.’s holdings in Dover were worth $63,238,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of DOV. William Mack & Associates Inc. bought a new stake in shares of Dover in the 3rd quarter worth approximately $29,000. Clearstead Trust LLC purchased a new position in Dover in the second quarter valued at approximately $30,000. Keating Financial Advisory Services Inc. bought a new position in Dover during the second quarter valued at $34,000. Kelleher Financial Advisors bought a new position in Dover during the second quarter valued at $38,000. Finally, Quest 10 Wealth Builders Inc. increased its position in Dover by 105.1% in the third quarter. Quest 10 Wealth Builders Inc. now owns 203 shares of the industrial products company’s stock worth $38,000 after buying an additional 104 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Trading Down 0.5%

Shares of DOV stock opened at $211.90 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.37 and a current ratio of 1.95. Dover Corporation has a 52-week low of $177.87 and a 52-week high of $237.54. The company has a market capitalization of $28.19 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 1.83 and a beta of 1.10. The business’s fifty day moving average is $195.28 and its 200 day moving average is $209.74.

Dover (NYSE:DOV) last posted its earnings results on Thursday, October 22nd. The industrial products company reported $2.88 EPS for the quarter, topping the consensus estimate of $2.85 by $0.03. Dover had a return on equity of 18.68% and a net margin of 13.60%. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the previous year, the business earned $2.62 earnings per share. The firm’s revenue was up 7.5% on a year-over-year basis. On average, equities research analysts anticipate that Dover Corporation will post 10.73 EPS for the current fiscal year.

Dover Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be paid a dividend of $0.5250 per share. The ex-dividend date of this dividend is Monday, November 30th. This represents a $2.10 annualized dividend and a dividend yield of 1.0%. Dover’s dividend payout ratio (DPR) is 24.48%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DOV. Wall Street Zen cut Dover from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. BMO Capital Markets upgraded Dover from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $255.00 to $240.00 in a research note on Friday, July 24th. Mizuho decreased their price objective on Dover from $270.00 to $245.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. Robert W. Baird set a $258.00 price objective on Dover in a report on Friday, October 23rd. Finally, Royal Bank Of Canada boosted their price objective on Dover from $216.00 to $219.00 and gave the company a “sector perform” rating in a research note on Friday, October 23rd. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $238.60.

Insider Buying and Selling at Dover

In other Dover news, CEO Richard Tobin sold 86,440 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $214.86, for a total value of $18,572,498.40. Following the completion of the sale, the chief executive officer directly owned 212,855 shares of the company’s stock, valued at $45,734,025.30. The trade was a 28.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Dover Profile

Dover Corporation is a diversified manufacturer of equipment and components for industrial and commercial markets. Founded in 1955, the company has grown through a combination of product development and acquisitions and serves customers around the world. Dover’s businesses operate across areas including engineered products, clean energy and fueling, imaging and identification, pumps and process solutions, and climate and sustainability technologies. Its products include fueling and vehicle-service equipment, pumps and fluid-handling systems, packaging and marking equipment, and components used in industrial and commercial applications.