nVerses Capital LLC Purchases Shares of 800 Dover Co. (NYSE:DOV)

nVerses Capital LLC acquired a new position in shares of Dover Co. (NYSE:DOV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 800 shares of the industrial products company’s stock, valued at approximately $144,000.

Several other hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC bought a new stake in Dover in the fourth quarter valued at $8,311,000. Truist Financial Corp increased its position in Dover by 3.1% in the 4th quarter. Truist Financial Corp now owns 34,620 shares of the industrial products company’s stock valued at $5,325,000 after buying an additional 1,036 shares in the last quarter. Natixis Advisors L.P. raised its stake in Dover by 1.2% during the 4th quarter. Natixis Advisors L.P. now owns 110,022 shares of the industrial products company’s stock worth $16,921,000 after buying an additional 1,287 shares during the period. Axxcess Wealth Management LLC boosted its holdings in Dover by 52.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 8,343 shares of the industrial products company’s stock worth $1,283,000 after acquiring an additional 2,867 shares in the last quarter. Finally, National Bank of Canada FI grew its stake in Dover by 8.7% in the fourth quarter. National Bank of Canada FI now owns 37,780 shares of the industrial products company’s stock valued at $5,724,000 after acquiring an additional 3,019 shares during the period. Institutional investors own 84.46% of the company’s stock.

Analyst Upgrades and Downgrades

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

Dover Trading Up 1.9 %

NYSE:DOV opened at $186.03 on Tuesday. Dover Co. has a 52 week low of $127.25 and a 52 week high of $192.31. The firm has a 50-day moving average price of $180.53 and a two-hundred day moving average price of $177.73. 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 firm has a market cap of $25.57 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 2.21 and a beta of 1.22.

Dover (NYSE:DOV) last issued its quarterly 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. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period last year, the business posted $2.05 earnings per share. Dover’s revenue was up 3.7% on a year-over-year basis. On average, equities analysts expect that Dover Co. will post 9.17 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a dividend of $0.515 per share. The ex-dividend date is Friday, August 30th. This represents a $2.06 annualized dividend and a yield of 1.11%. This is a positive change from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio is presently 19.79%.

Insider Buying and Selling

In other news, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the transaction, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the transaction, the senior vice president now owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard J. Tobin sold 25,004 shares of Dover 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 completion of the sale, the chief executive officer now directly 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 90 days, insiders sold 30,565 shares of company stock worth $5,576,733. Insiders own 1.30% of the company’s stock.

Dover 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.