Candriam S.C.A. Sells 10,825 Shares of Dover Corporation $DOV

Candriam S.C.A. lessened its holdings in shares of Dover Corporation (NYSE:DOV) by 21.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 38,556 shares of the industrial products company’s stock after selling 10,825 shares during the quarter. Candriam S.C.A.’s holdings in Dover were worth $7,238,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in DOV. BlackRock Inc. bought a new stake in shares of Dover during the second quarter valued at approximately $2,347,134,000. Bank of America Corp DE bought a new stake in shares of Dover in the 2nd quarter valued at about $625,375,000. Bank of New York Mellon Corp acquired a new position in shares of Dover during the second quarter worth $591,207,000. Hsbc Holdings PLC purchased a new stake in shares of Dover during the 2nd quarter valued at $211,269,000. Finally, Legal & General Group Plc purchased a new stake in shares of Dover during the 2nd quarter valued at $183,574,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of DOV opened at $212.83 on Tuesday. The stock has a 50-day moving average of $194.92 and a two-hundred day moving average of $209.73. Dover Corporation has a one year low of $177.87 and a one year high of $237.54. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.37 and a current ratio of 1.95. The stock has a market cap of $28.31 billion, a P/E ratio of 24.81, a P/E/G ratio of 1.83 and a beta of 1.10.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, October 22nd. The industrial products company reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.03. Dover had a return on equity of 18.68% and a net margin of 13.60%. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same period in the prior year, the company earned $2.62 earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. As a group, research analysts predict that Dover Corporation will post 10.73 EPS for the current year.

Dover Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be paid a $0.5250 dividend. The ex-dividend date is Monday, November 30th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.0%. Dover’s dividend payout ratio is presently 24.48%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DOV. Weiss Ratings downgraded Dover from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 2nd. Citigroup raised their price target on Dover from $266.00 to $268.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Mizuho dropped their price target on Dover from $270.00 to $245.00 and set an “outperform” rating on the stock in a research note on Thursday, October 15th. Wells Fargo & Company upped their price objective on shares of Dover from $229.00 to $233.00 and gave the company an “overweight” rating in a report on Friday, October 23rd. Finally, Wall Street Zen downgraded shares of Dover from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $238.60.

Insider Buying and Selling at Dover

In related news, CEO Richard Tobin sold 86,440 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $214.86, for a total transaction of $18,572,498.40. Following the completion of the transaction, the chief executive officer owned 212,855 shares of the company’s stock, valued at $45,734,025.30. This trade represents a 28.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is owned by insiders.

About Dover

Dover Corporation is a diversified manufacturer of equipment and components for industrial and commercial markets. Founded in 1955, the company has grown through a combination of product development and acquisitions and serves customers around the world.

Dover’s businesses operate across areas including engineered products, clean energy and fueling, imaging and identification, pumps and process solutions, and climate and sustainability technologies. Its products include fueling and vehicle-service equipment, pumps and fluid-handling systems, packaging and marking equipment, and components used in industrial and commercial applications.

The company serves a broad range of end markets, including manufacturing, transportation, energy, food and beverage, and retail.