Modera Wealth Management LLC Sells 97 Shares of Dover Co. (NYSE:DOV)

Modera Wealth Management LLC trimmed its holdings in shares of Dover Co. (NYSE:DOV) by 0.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 94,064 shares of the industrial products company’s stock after selling 97 shares during the period. Modera Wealth Management LLC owned approximately 0.07% of Dover worth $18,036,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in DOV. LRI Investments LLC bought a new position in Dover during the first quarter worth about $28,000. McClarren Financial Advisors Inc. raised its holdings in shares of Dover by 4,400.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after buying an additional 176 shares in the last quarter. Fairscale Capital LLC bought a new position in shares of Dover during the 2nd quarter worth approximately $34,000. Ashton Thomas Private Wealth LLC acquired a new stake in Dover in the 2nd quarter valued at $41,000. Finally, Transcendent Capital Group LLC grew its position in Dover by 208.0% in the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 156 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Robert W. Baird reissued an “outperform” rating and set a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Wells Fargo & Company boosted their price target on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. raised their price objective on shares of Dover from $210.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday. Mizuho boosted their target price on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Barclays raised their price target on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.00.

Dover Stock Up 1.2 %

NYSE:DOV opened at $186.98 on Friday. The company has a market cap of $25.70 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 2.20 and a beta of 1.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53. The stock’s fifty day moving average price is $186.80 and its two-hundred day moving average price is $182.22. Dover Co. has a 52-week low of $127.25 and a 52-week high of $195.68.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.11. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. On average, analysts anticipate that Dover Co. will post 9.18 EPS for the current year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a dividend of $0.515 per share. This is a boost from Dover’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.10%. Dover’s payout ratio is currently 19.79%.

Insider Buying and Selling

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total value of $4,549,727.84. Following the transaction, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Brad M. Cerepak sold 14,818 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the sale, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the transaction, the chief executive officer now owns 182,928 shares in the company, valued at approximately $33,285,578.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 45,383 shares of company stock valued at $8,169,883 over the last ninety days. Insiders own 1.30% of the company’s stock.

Dover Company Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.