Banque Cantonale Vaudoise Lowers Holdings in Dover Co. (NYSE:DOV)

Banque Cantonale Vaudoise trimmed its position in Dover Co. (NYSE:DOV) by 63.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,126 shares of the industrial products company’s stock after selling 7,056 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Dover were worth $745,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Franklin Resources Inc. increased its holdings in shares of Dover by 15.4% in the fourth quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock worth $567,426,000 after purchasing an additional 492,577 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Dover by 153.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after purchasing an additional 1,595,611 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Dover by 10.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,428,878 shares of the industrial products company’s stock worth $219,778,000 after purchasing an additional 140,089 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Dover by 50.7% in the fourth quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock worth $189,433,000 after purchasing an additional 414,481 shares during the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of Dover by 15.9% in the fourth quarter. Corient Private Wealth LLC now owns 1,150,063 shares of the industrial products company’s stock worth $176,891,000 after purchasing an additional 157,614 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Dover Trading Up 1.7 %

DOV opened at $186.03 on Monday. The stock has a market cap of $25.57 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 2.21 and a beta of 1.22. The stock’s 50 day moving average price is $180.50 and its 200-day moving average price is $177.57. Dover Co. has a one year low of $127.25 and a one year high of $192.31. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53.

Dover (NYSE:DOV) last released its earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 earnings per share. On average, equities analysts forecast that Dover Co. will post 9.17 EPS for the current year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a $0.515 dividend. This is a positive change from Dover’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.11%. Dover’s payout ratio is presently 19.60%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DOV. Royal Bank of Canada boosted their price objective on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Robert W. Baird reissued an “outperform” rating and set a $208.00 price objective on shares of Dover in a research note on Monday, July 22nd. Finally, Mizuho boosted their price objective on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $192.63.

Insider Activity at Dover

In related news, CFO Brad M. Cerepak sold 4,341 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the completion of the sale, the chief financial officer now owns 12,324 shares in the company, valued at $2,274,887.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Brad M. Cerepak sold 4,341 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the completion of the sale, the chief financial officer now owns 12,324 shares in the company, valued at $2,274,887.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of the business’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 completion of the sale, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,565 shares of company stock worth $5,576,733. Company insiders own 1.30% of the company’s stock.

About Dover

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.