Insider Selling: Dover (NYSE:DOV) CEO Sells $17,917,201.90 in Stock

Dover Corporation (NYSE:DOV) CEO Richard Tobin sold 76,997 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $232.70, for a total transaction of $17,917,201.90. Following the completion of the sale, the chief executive officer directly owned 217,979 shares of the company’s stock, valued at $50,723,713.30. The trade was a 26.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Dover Stock Performance

NYSE:DOV opened at $233.12 on Monday. The firm’s fifty day simple moving average is $209.02 and its 200 day simple moving average is $188.42. The company has a current ratio of 1.79, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. Dover Corporation has a twelve month low of $143.04 and a twelve month high of $237.54. The firm has a market capitalization of $31.44 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 1.79 and a beta of 1.29.

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

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a $0.52 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $2.08 annualized dividend and a yield of 0.9%. Dover’s dividend payout ratio (DPR) is 26.20%.

Institutional Trading of Dover

Several institutional investors and hedge funds have recently bought and sold shares of DOV. Financial Life Planners bought a new stake in shares of Dover in the 3rd quarter valued at approximately $25,000. Meeder Asset Management Inc. increased its stake in Dover by 234.2% during the fourth quarter. Meeder Asset Management Inc. now owns 127 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 89 shares during the last quarter. AdvisorShares Investments LLC acquired a new stake in shares of Dover during the second quarter worth $30,000. Tompkins Financial Corp lifted its position in shares of Dover by 102.7% in the 4th quarter. Tompkins Financial Corp now owns 152 shares of the industrial products company’s stock worth $30,000 after buying an additional 77 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC grew its position in shares of Dover by 122.4% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 169 shares of the industrial products company’s stock valued at $31,000 after buying an additional 93 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DOV. Barclays set a $206.00 price target on shares of Dover in a report on Monday, February 2nd. Oppenheimer raised their target price on Dover from $228.00 to $232.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Morgan Stanley set a $210.00 target price on Dover in a research report on Wednesday, February 4th. Wells Fargo & Company increased their price target on Dover from $205.00 to $210.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $224.00 price objective on shares of Dover in a report on Saturday, January 31st. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $224.00.

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.