Natixis Advisors LLC Sells 8,323 Shares of Dover Co. (NYSE:DOV)

Natixis Advisors LLC reduced its position in shares of Dover Co. (NYSE:DOV) by 8.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 87,193 shares of the industrial products company’s stock after selling 8,323 shares during the quarter. Natixis Advisors LLC’s holdings in Dover were worth $15,734,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its position in shares of Dover by 153.7% during the 1st 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 buying an additional 1,595,611 shares during the period. Norges Bank bought a new stake in shares of Dover during the 4th quarter valued at $175,275,000. Franklin Resources Inc. lifted its stake in shares of Dover by 15.4% in the 4th quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock valued at $567,426,000 after purchasing an additional 492,577 shares during the period. Wellington Management Group LLP boosted its position in shares of Dover by 50.7% in the 4th 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, Interval Partners LP acquired a new stake in shares of Dover during the first quarter worth $49,195,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s 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 of the company’s stock, valued at $8,706,100. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Over the last three months, insiders sold 30,565 shares of company stock worth $5,576,733. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

DOV has been the topic of several analyst reports. Mizuho increased their target price on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Royal Bank of Canada lifted their price objective on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $208.00 target price on shares of Dover in a research note on Monday, July 22nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Dover has an average rating of “Moderate Buy” and an average target price of $192.63.

Dover Stock Performance

Shares of DOV stock opened at $176.39 on Thursday. 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 52 week low of $127.25 and a 52 week high of $192.31. The company’s 50 day moving average price is $180.49 and its two-hundred day moving average price is $177.85. The company has a market capitalization of $24.24 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 2.21 and a beta of 1.22.

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

Dover Increases Dividend

The company 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 dividend of $0.515 per share. This is a boost from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, August 30th. Dover’s dividend payout ratio 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.