Valmark Advisers Inc. Purchases 63 Shares of Dover Co. (NYSE:DOV)

Valmark Advisers Inc. lifted its position in Dover Co. (NYSE:DOV) by 1.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,962 shares of the industrial products company’s stock after purchasing an additional 63 shares during the quarter. Valmark Advisers Inc.’s holdings in Dover were worth $715,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. LRI Investments LLC bought a new position in Dover in the 1st quarter worth about $28,000. McClarren Financial Advisors Inc. raised its stake in Dover by 4,400.0% in the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 176 shares in the last quarter. Transcendent Capital Group LLC lifted its position in Dover by 208.0% during the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 156 shares during the last quarter. Northwest Financial Advisors purchased a new position in Dover in the 4th quarter worth approximately $36,000. Finally, North Star Investment Management Corp. increased its holdings in shares of Dover by 93.0% in the 1st quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock worth $44,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Activity

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the sale, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at $8,706,100. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brad M. Cerepak sold 4,341 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total value of $801,305.19. Following the completion of the transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at approximately $2,274,887.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,565 shares of company stock valued at $5,576,733. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DOV. Royal Bank of Canada upped 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. Mizuho upped their price objective on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, 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. Three research 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $192.63.

Dover Stock Performance

NYSE:DOV opened at $186.03 on Tuesday. 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 Co. has a fifty-two week low of $127.25 and a fifty-two week high of $192.31. The firm has a market cap of $25.57 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 2.21 and a beta of 1.22. The business has a 50 day moving average price of $180.53 and a 200-day moving average price of $177.73.

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

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a $0.515 dividend. This is a positive change from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, August 30th. Dover’s dividend payout ratio (DPR) is currently 19.79%.

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.