State of Wyoming Acquires 2,988 Shares of Dover Corporation $DOV

State of Wyoming grew its holdings in shares of Dover Corporation (NYSE:DOV) by 2,510.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,107 shares of the industrial products company’s stock after acquiring an additional 2,988 shares during the quarter. State of Wyoming’s holdings in Dover were worth $518,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of DOV. Jones Financial Companies Lllp lifted its position in Dover by 18.2% during the third quarter. Jones Financial Companies Lllp now owns 20,488 shares of the industrial products company’s stock valued at $3,441,000 after purchasing an additional 3,160 shares during the last quarter. Mediolanum International Funds Ltd lifted its holdings in shares of Dover by 4.6% during the 3rd quarter. Mediolanum International Funds Ltd now owns 13,269 shares of the industrial products company’s stock worth $2,211,000 after acquiring an additional 584 shares during the last quarter. Independent Advisor Alliance increased its stake in Dover by 13.2% in the third quarter. Independent Advisor Alliance now owns 19,278 shares of the industrial products company’s stock valued at $3,216,000 after acquiring an additional 2,251 shares during the last quarter. National Pension Service raised its position in Dover by 4.6% during the third quarter. National Pension Service now owns 246,116 shares of the industrial products company’s stock valued at $41,060,000 after purchasing an additional 10,910 shares in the last quarter. Finally, Cornerstone Wealth Management LLC lifted its stake in Dover by 4.5% during the third quarter. Cornerstone Wealth Management LLC now owns 29,888 shares of the industrial products company’s stock worth $4,986,000 after purchasing an additional 1,287 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors.

Dover Stock Up 2.0%

Shares of NYSE:DOV opened at $211.53 on Wednesday. The stock’s 50-day moving average is $199.14 and its 200 day moving average is $184.21. The company has a market cap of $29.01 billion, a PE ratio of 26.64, a P/E/G ratio of 1.59 and a beta of 1.29. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.79 and a quick ratio of 1.28. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $222.31.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.09 billion. Dover had a return on equity of 17.87% and a net margin of 13.52%.The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the company earned $2.20 EPS. Sell-side analysts anticipate that Dover Corporation will post 9.45 EPS for the current year.

Dover Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Friday, November 28th were issued a $0.52 dividend. The ex-dividend date was Friday, November 28th. This represents a $2.08 annualized dividend and a yield of 1.0%. Dover’s dividend payout ratio is 26.20%.

Insider Activity

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 transaction of $501,804.00. Following the sale, the senior vice president owned 72,968 shares of the company’s stock, valued at approximately $13,922,294.40. The trade was a 3.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Christopher B. Woenker sold 1,627 shares of the stock in a transaction dated Friday, November 28th. The stock was 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 of the company’s stock, valued at approximately $474,960.12. The trade was a 38.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on DOV. Wall Street Zen downgraded Dover from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. UBS Group set a $256.00 target price on shares of Dover and gave the stock a “buy” rating in a research report on Sunday, January 4th. Barclays set a $206.00 price target on shares of Dover in a research report on Monday. Oppenheimer lifted their price objective on Dover from $228.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $224.00 target price on shares of Dover in a research note on Saturday. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $222.75.

Dover Company Profile

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.