Dover Corporation $DOV Stock Sold by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its position in shares of Dover Corporation (NYSE:DOV) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,529,677 shares of the industrial products company’s stock after selling 56,080 shares during the quarter. Fisher Asset Management LLC’s holdings in Dover were worth $286,126,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in shares of Dover by 8.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 123,126 shares of the industrial products company’s stock worth $23,036,000 after buying an additional 9,342 shares during the last quarter. Eurizon Capital SGR S.p.A. grew its stake in Dover by 37.9% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 35,469 shares of the industrial products company’s stock valued at $6,636,000 after acquiring an additional 9,742 shares during the last quarter. Three Bridge Wealth Advisors LLC purchased a new position in Dover during the 3rd quarter valued at about $29,000. Maryland State Retirement & Pension System increased its holdings in Dover by 13.7% during the 3rd quarter. Maryland State Retirement & Pension System now owns 8,264 shares of the industrial products company’s stock valued at $1,546,000 after acquiring an additional 993 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new position in Dover during the third quarter worth about $664,000. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Richard Tobin sold 86,440 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $214.86, for a total transaction of $18,572,498.40. Following the sale, the chief executive officer owned 212,855 shares in the company, valued at approximately $45,734,025.30. This trade represents a 28.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DOV. Royal Bank Of Canada upped their price target on shares of Dover from $216.00 to $219.00 and gave the company a “sector perform” rating in a report on Friday, October 23rd. Weiss Ratings cut shares of Dover from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 2nd. Robert W. Baird set a $258.00 price objective on Dover in a research report on Friday, October 23rd. BMO Capital Markets raised Dover from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $255.00 to $240.00 in a research note on Friday, July 24th. Finally, Wall Street Zen lowered Dover from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.60.

Dover Trading Down 1.4%

Dover stock opened at $209.41 on Friday. The stock has a 50-day moving average price of $196.14 and a 200 day moving average price of $209.78. Dover Corporation has a 52 week low of $177.87 and a 52 week high of $237.54. The stock has a market cap of $27.85 billion, a PE ratio of 24.41, a P/E/G ratio of 1.83 and a beta of 1.10. The company has a current ratio of 1.95, a quick ratio of 1.37 and a debt-to-equity ratio of 0.34.

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

Dover Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors 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 is presently 24.48%.

Dover Company 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.