Dover Corporation $DOV Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC cut its stake in Dover Corporation (NYSE:DOV) by 16.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 856,665 shares of the industrial products company’s stock after selling 163,697 shares during the period. Corient Private Wealth LLC’s holdings in Dover were worth $156,967,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of DOV. Machina Capital S.A.S. grew its holdings in shares of Dover by 38.8% during the second quarter. Machina Capital S.A.S. now owns 8,779 shares of the industrial products company’s stock valued at $1,609,000 after buying an additional 2,452 shares during the last quarter. Nordea Investment Management AB raised its stake in Dover by 9.3% in the 2nd quarter. Nordea Investment Management AB now owns 124,031 shares of the industrial products company’s stock worth $22,701,000 after acquiring an additional 10,581 shares during the last quarter. Hsbc Holdings PLC lifted its position in Dover by 77.9% during the 1st quarter. Hsbc Holdings PLC now owns 614,098 shares of the industrial products company’s stock worth $107,677,000 after acquiring an additional 268,931 shares during the period. Acadian Asset Management LLC grew its stake in Dover by 1,034.4% during the 1st quarter. Acadian Asset Management LLC now owns 34,237 shares of the industrial products company’s stock valued at $6,012,000 after purchasing an additional 31,219 shares during the last quarter. Finally, Advisory Resource Group increased its holdings in shares of Dover by 7.7% in the second quarter. Advisory Resource Group now owns 28,732 shares of the industrial products company’s stock valued at $5,264,000 after purchasing an additional 2,047 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Robert W. Baird set a $235.00 target price on Dover in a report on Friday, October 24th. Morgan Stanley lifted their price objective on shares of Dover from $185.00 to $195.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. Oppenheimer increased their price objective on shares of Dover from $225.00 to $228.00 and gave the stock an “outperform” rating in a research note on Friday, November 14th. Wall Street Zen cut shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, BNP Paribas initiated coverage on shares of Dover in a report on Thursday, December 4th. They issued a “neutral” rating and a $195.00 price target on the stock. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.73.

Insider Buying and Selling

In other news, SVP Ivonne M. Cabrera sold 2,630 shares of Dover stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $190.80, for a total value of $501,804.00. Following the sale, the senior vice president owned 72,968 shares in the company, valued at $13,922,294.40. This trade represents a 3.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Christopher B. Woenker sold 1,627 shares of the firm’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $186.04, for a total transaction of $302,687.08. Following the completion of the transaction, the chief financial officer directly owned 2,553 shares in the company, valued at $474,960.12. This represents a 38.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.20% of the company’s stock.

Dover Stock Performance

DOV opened at $199.18 on Monday. The firm has a fifty day moving average price of $179.34 and a 200 day moving average price of $179.06. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31. The stock has a market cap of $27.32 billion, a P/E ratio of 12.25, a P/E/G ratio of 1.55 and a beta of 1.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.04 and a quick ratio of 1.44.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, June 30th. The industrial products company reported $1.55 earnings per share for the quarter. The company had revenue of $1.78 billion during the quarter. Dover had a net margin of 28.37% and a return on equity of 17.62%. Equities research analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current year.

Dover Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $2.08 dividend on an annualized basis and a yield of 1.0%. Dover’s dividend payout ratio is presently 12.79%.

About Dover

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.