Dover (DOV) Sees Large Volume Increase

Dover Corp (NYSE:DOV) saw unusually-strong trading volume on Wednesday . Approximately 1,423,124 shares traded hands during trading, an increase of 16% from the previous session’s volume of 1,231,343 shares.The stock last traded at $103.22 and had previously closed at $103.91.

A number of equities research analysts have recently weighed in on DOV shares. BMO Capital Markets reaffirmed a “buy” rating on shares of Dover in a research note on Friday, January 26th. Stifel Nicolaus reissued a “hold” rating and set a $112.00 price objective (up previously from $100.00) on shares of Dover in a report on Tuesday, January 16th. ValuEngine lowered Dover from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Seaport Global Securities reissued a “hold” rating and set a $110.00 price objective on shares of Dover in a report on Friday, February 2nd. Finally, Royal Bank of Canada reissued a “hold” rating and set a $105.00 price objective on shares of Dover in a report on Wednesday, January 17th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Dover presently has an average rating of “Hold” and a consensus price target of $107.83.

The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.40. The firm has a market capitalization of $16,046.24, a price-to-earnings ratio of 19.22, a P/E/G ratio of 1.37 and a beta of 1.28.

Dover (NYSE:DOV) last released its earnings results on Tuesday, January 30th. The industrial products company reported $1.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.09. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. Dover had a return on equity of 15.24% and a net margin of 10.37%. The company’s revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 EPS. equities research analysts expect that Dover Corp will post 5.85 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Tuesday, February 27th. Dover’s dividend payout ratio (DPR) is currently 36.50%.

In other Dover news, VP Paul Goldberg sold 3,300 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $102.00, for a total value of $336,600.00. Following the sale, the vice president now owns 4,545 shares of the company’s stock, valued at approximately $463,590. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Patrick Burns bought 510 shares of the stock in a transaction on Friday, March 2nd. The stock was acquired at an average cost of $97.51 per share, for a total transaction of $49,730.10. Following the acquisition, the senior vice president now directly owns 1,883 shares in the company, valued at $183,611.33. The disclosure for this purchase can be found here. Insiders sold a total of 19,897 shares of company stock worth $2,031,745 in the last ninety days. Insiders own 2.50% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DOV. Cerebellum GP LLC acquired a new stake in Dover in the 4th quarter valued at approximately $133,000. Tower Research Capital LLC TRC grew its holdings in Dover by 891.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,775 shares of the industrial products company’s stock valued at $179,000 after buying an additional 1,596 shares during the last quarter. Somerville Kurt F bought a new stake in shares of Dover in the 4th quarter worth approximately $202,000. Associated Banc Corp bought a new stake in shares of Dover in the 4th quarter worth approximately $202,000. Finally, Hemenway Trust Co LLC bought a new stake in shares of Dover in the 4th quarter worth approximately $203,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

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Dover Company Profile

Dover Corporation provides equipment and components, specialty systems, consumable supplies, software and digital solutions, and support services worldwide. The company operates in four segments: Energy, Engineered Systems, Fluids, and Refrigeration & Food Equipment. The Energy segment provides solutions and services for the production and processing of fuels for drilling and production, bearings and compression, and automation end markets.

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