Legal & General Group Plc grew its position in shares of Dover Corporation (NYSE:DOV - Free Report) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 930,301 shares of the industrial products company's stock after buying an additional 21,786 shares during the quarter. Legal & General Group Plc owned 0.68% of Dover worth $155,202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC increased its position in Dover by 122.4% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company's stock valued at $31,000 after acquiring an additional 93 shares during the last quarter. Caldwell Trust Co purchased a new position in Dover in the second quarter worth about $31,000. Westside Investment Management Inc. boosted its position in Dover by 100.0% in the third quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company's stock worth $38,000 after purchasing an additional 114 shares during the last quarter. Davis Capital Management bought a new stake in shares of Dover during the 3rd quarter valued at about $44,000. Finally, Cornerstone Planning Group LLC increased its position in shares of Dover by 371.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 264 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 208 shares during the last quarter. Institutional investors own 84.46% of the company's stock.
Insider Activity
In related news, CEO Richard J. Tobin sold 76,997 shares of the firm's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the completion of the transaction, the chief executive officer directly owned 217,979 shares of the company's stock, valued at approximately $50,723,713.30. This trade represents a 26.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Ivonne M. Cabrera sold 4,000 shares of Dover stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $233.23, for a total transaction of $932,920.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 82,497 shares of company stock worth $19,196,277 over the last quarter. Insiders own 1.30% of the company's stock.
Dover Price Performance
Shares of Dover stock opened at $203.69 on Friday. The company has a market capitalization of $27.47 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.61 and a beta of 1.27. The company has a quick ratio of 1.28, a current ratio of 1.79 and a debt-to-equity ratio of 0.35. The stock's 50-day simple moving average is $214.95 and its 200-day simple moving average is $192.29. Dover Corporation has a 52 week low of $143.04 and a 52 week high of $237.54.
Dover (NYSE:DOV - Get Free Report) last released its earnings results 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 analysts' expectations of $2.09 billion. Dover had a return on equity of 17.87% and a net margin of 13.52%.The firm's revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $2.20 earnings per share. As a group, 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. Shareholders of record on Friday, February 27th will be issued 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 is Friday, February 27th. Dover's dividend payout ratio (DPR) is 26.20%.
Wall Street Analyst Weigh In
DOV has been the topic of several recent research reports. Oppenheimer increased their price objective on shares of Dover from $228.00 to $232.00 and gave the stock an "outperform" rating in a research note on Monday, January 26th. BNP Paribas Exane began coverage on shares of Dover in a report on Thursday, December 4th. They set a "neutral" rating and a $195.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Dover from $205.00 to $210.00 and gave the stock an "equal weight" rating in a research note on Friday, January 30th. Morgan Stanley set a $210.00 price target on shares of Dover in a research note on Wednesday, February 4th. Finally, Royal Bank Of Canada boosted their price objective on shares of Dover from $199.00 to $209.00 and gave the company a "sector perform" rating in a research report on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $224.00.
Check Out Our Latest Analysis on DOV
About Dover
(
Free Report)
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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