9,239 Shares in Dover Corporation $DOV Purchased by Fieldview Capital Management LLC

Key Points

• Fieldview Capital acquired a new stake in Dover (NYSE:DOV) of 9,239 shares valued at about $1.54 million during the third quarter, and overall institutional investors own approximately 84.46% of the stock.
• CEO Richard J. Tobin sold 76,997 shares at an average price of $232.70 (≈$17.9M), and insiders sold a total of 82,497 shares worth about $19.2M over the last quarter, leaving insiders with roughly 1.20% ownership.
• Dover beat the latest quarter (EPS $2.51 vs. $2.48 consensus; revenue $2.10B) and announced a quarterly dividend of $0.52 ($2.08 annual, ~1.0% yield) with an ex-dividend date of Feb. 27 and payment on Mar. 13.

Fieldview Capital Management LLC acquired a new stake in Dover Corporation (NYSE:DOV - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,239 shares of the industrial products company's stock, valued at approximately $1,541,000.

A number of other large investors have also modified their holdings of DOV. Mission Wealth Management LP boosted its stake in shares of Dover by 0.8% in the third quarter. Mission Wealth Management LP now owns 7,493 shares of the industrial products company's stock valued at $1,250,000 after buying an additional 58 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its position in Dover by 4.9% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,282 shares of the industrial products company's stock worth $235,000 after acquiring an additional 60 shares in the last quarter. Cobblestone Capital Advisors LLC NY lifted its holdings in Dover by 2.3% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 2,774 shares of the industrial products company's stock valued at $463,000 after acquiring an additional 62 shares during the period. Certuity LLC boosted its position in shares of Dover by 2.5% during the 2nd quarter. Certuity LLC now owns 2,587 shares of the industrial products company's stock worth $474,000 after purchasing an additional 64 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its stake in shares of Dover by 4.4% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 1,517 shares of the industrial products company's stock worth $253,000 after purchasing an additional 64 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Up 1.2%

DOV stock opened at $210.82 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28. The company's 50 day simple moving average is $214.22 and its 200-day simple moving average is $191.89. Dover Corporation has a 12 month low of $143.04 and a 12 month high of $237.54. The firm has a market capitalization of $28.43 billion, a PE ratio of 26.55, a P/E/G ratio of 1.60 and a beta of 1.26.

Dover (NYSE:DOV - Get Free Report) last issued 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. The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.09 billion. Dover had a return on equity of 17.87% and a net margin of 13.52%.The company's quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 EPS. Equities analysts expect that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, February 27th. Dover's dividend payout ratio is currently 26.20%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Royal Bank Of Canada boosted their price objective on shares of Dover from $199.00 to $209.00 and gave the stock a "sector perform" rating in a report on Friday, January 30th. Wall Street Zen upgraded shares of Dover from a "hold" rating to a "buy" rating in a research report on Saturday, February 28th. Wells Fargo & Company boosted their price target on Dover from $205.00 to $210.00 and gave the stock an "equal weight" rating in a research note on Friday, January 30th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $224.00 price objective on shares of Dover in a research note on Saturday, January 31st. Finally, Robert W. Baird set a $255.00 price objective on Dover in a report on Friday, January 30th. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Dover currently has a consensus 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 company's stock in a transaction dated Thursday, February 19th. The shares were 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 in the company, valued at approximately $50,723,713.30. This represents a 26.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Ivonne M. Cabrera sold 4,000 shares of the firm's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total transaction of $932,920.00. Following the sale, the senior vice president directly owned 72,188 shares in the company, valued at $16,836,407.24. This represents a 5.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 82,497 shares of company stock valued at $19,196,277 over the last quarter. Insiders own 1.20% of the company's stock.

About Dover

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.

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