Dover Corporation $DOV Stake Lessened by ProShare Advisors LLC

ProShare Advisors LLC decreased its position in shares of Dover Corporation (NYSE:DOV) by 5.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 921,025 shares of the industrial products company’s stock after selling 54,526 shares during the period. ProShare Advisors LLC’s holdings in Dover were worth $153,655,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AdvisorShares Investments LLC acquired a new stake in shares of Dover in the second quarter valued at $30,000. Vermillion & White Wealth Management Group LLC raised its position in Dover by 122.4% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 93 shares in the last quarter. Caldwell Trust Co acquired a new stake in Dover in the 2nd quarter valued at about $31,000. Harbour Investments Inc. boosted its position in shares of Dover by 51.7% during the 2nd quarter. Harbour Investments Inc. now owns 176 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 60 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Dover in the 2nd quarter worth approximately $37,000. 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 stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $190.80, for a total value 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Christopher B. Woenker sold 1,627 shares of the business’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $186.04, for a total transaction of $302,687.08. Following the transaction, the chief financial officer owned 2,553 shares in the company, valued at approximately $474,960.12. This represents a 38.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.20% of the stock is owned by corporate insiders.

Dover Stock Up 2.8%

Shares of Dover stock opened at $223.75 on Monday. Dover Corporation has a 1 year low of $143.04 and a 1 year high of $224.03. The company has a market cap of $30.69 billion, a P/E ratio of 28.18, a P/E/G ratio of 1.72 and a beta of 1.29. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average price of $201.20 and a 200 day moving average price of $184.87.

Dover (NYSE:DOV) last issued its earnings results on Thursday, January 29th. The industrial products company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. The company had revenue of $2.10 billion for 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 firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.20 EPS. As a group, analysts expect that Dover Corporation will post 9.45 EPS for the current fiscal year.

Analyst Ratings Changes

DOV has been the subject of several recent research reports. Robert W. Baird set a $255.00 target price on shares of Dover in a research note on Friday, January 30th. Barclays set a $206.00 price objective on Dover in a research report on Monday, February 2nd. BNP Paribas Exane assumed coverage on Dover in a research note on Thursday, December 4th. They set a “neutral” rating and a $195.00 price objective for the company. Wall Street Zen lowered Dover from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Morgan Stanley set a $210.00 target price on Dover in a report on Wednesday. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.00.

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.