First Eagle Investment Management LLC Sells 3,673 Shares of Dover Corporation $DOV

First Eagle Investment Management LLC trimmed its position in Dover Corporation (NYSE:DOV) by 64.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,014 shares of the industrial products company’s stock after selling 3,673 shares during the period. First Eagle Investment Management LLC’s holdings in Dover were worth $336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC grew its position in Dover by 122.4% during the second 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 period. Caldwell Trust Co purchased a new position in shares of Dover during the 2nd quarter worth $31,000. Westside Investment Management Inc. grew its position in shares of Dover by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 228 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 114 shares during the period. Davis Capital Management purchased a new stake in shares of Dover in the 3rd quarter worth $44,000. Finally, Cornerstone Planning Group LLC raised its holdings in Dover by 371.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 264 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 208 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Transactions at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 4,000 shares of Dover stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $233.23, for a total value of $932,920.00. Following the sale, the senior vice president owned 72,188 shares of the company’s stock, valued at $16,836,407.24. The trade was a 5.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Richard J. Tobin sold 76,997 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $232.70, for a total value of $17,917,201.90. Following the transaction, the chief executive officer owned 217,979 shares of the company’s stock, valued at $50,723,713.30. This represents a 26.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 82,497 shares of company stock valued at $19,196,277. 1.30% of the stock is currently owned by insiders.

Dover Trading Down 2.8%

DOV stock opened at $215.61 on Friday. 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 $237.54. The business has a 50 day simple moving average of $213.82 and a two-hundred day simple moving average of $191.26. The company has a market capitalization of $29.08 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.70 and a beta of 1.27.

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

Dover Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, February 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. Dover’s dividend payout ratio (DPR) is presently 26.20%.

Analyst Ratings Changes

Several analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on Dover from $230.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Citigroup reaffirmed a “buy” rating on shares of Dover in a research report on Monday, January 12th. Barclays set a $206.00 target price on shares of Dover in a report on Monday, February 2nd. UBS Group set a $256.00 price target on shares of Dover and gave the company a “buy” rating in a report on Sunday, January 4th. Finally, Morgan Stanley set a $210.00 price target on shares of Dover in a research report on Wednesday, February 4th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.00.

Dover 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.