Ethic Inc. Reduces Stake in Dover Corporation $DOV

Ethic Inc. reduced its stake in shares of Dover Corporation (NYSE:DOV) by 15.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,725 shares of the industrial products company’s stock after selling 5,167 shares during the quarter. Ethic Inc.’s holdings in Dover were worth $4,625,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of DOV. Perigon Wealth Management LLC increased its position in shares of Dover by 64.8% during the 3rd quarter. Perigon Wealth Management LLC now owns 2,668 shares of the industrial products company’s stock valued at $445,000 after purchasing an additional 1,049 shares during the last quarter. Castle Rock Wealth Management LLC increased its position in Dover by 1.1% during the third quarter. Castle Rock Wealth Management LLC now owns 10,540 shares of the industrial products company’s stock valued at $1,757,000 after acquiring an additional 114 shares during the last quarter. Griffin Asset Management Inc. raised its stake in shares of Dover by 0.4% in the third quarter. Griffin Asset Management Inc. now owns 53,477 shares of the industrial products company’s stock valued at $8,922,000 after acquiring an additional 226 shares during the period. Blue Trust Inc. lifted its holdings in shares of Dover by 4.4% in the 3rd quarter. Blue Trust Inc. now owns 2,846 shares of the industrial products company’s stock worth $475,000 after acquiring an additional 119 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Dover by 121.6% during the 3rd quarter. CWM LLC now owns 34,911 shares of the industrial products company’s stock worth $5,824,000 after purchasing an additional 19,155 shares during the period. 84.46% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DOV. 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 report on Friday, November 14th. JPMorgan Chase & Co. increased their price target on Dover from $217.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Dover in a report on Monday. Royal Bank Of Canada increased their target price on Dover from $183.00 to $198.00 and gave the stock a “sector perform” rating in a research note on Friday, October 24th. Finally, Wells Fargo & Company reiterated a “positive” rating on shares of Dover in a research report on Monday, December 15th. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.64.

Dover Price Performance

DOV opened at $197.72 on Wednesday. The company has a market capitalization of $27.12 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 1.53 and a beta of 1.31. The company has a current ratio of 2.04, a quick ratio of 1.44 and a debt-to-equity ratio of 0.35. Dover Corporation has a 12-month low of $143.04 and a 12-month high of $222.31. The business’s fifty day simple moving average is $187.34 and its 200-day simple moving average is $180.75.

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%. On average, equities research analysts anticipate that Dover Corporation will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, November 28th. Dover’s dividend payout ratio (DPR) is presently 12.79%.

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.