Dover Co. (NYSE:DOV) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its holdings in shares of Dover Co. (NYSE:DOV) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 280,745 shares of the industrial products company’s stock after selling 1,680 shares during the period. Rhumbline Advisers’ holdings in Dover were worth $50,660,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. LRI Investments LLC acquired a new stake in Dover in the first quarter valued at $27,000. McClarren Financial Advisors Inc. grew its holdings 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 during the last quarter. Northwest Financial Advisors acquired a new stake in Dover in the fourth quarter valued at $36,000. Transcendent Capital Group LLC grew its holdings 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 purchasing an additional 156 shares during the last quarter. Finally, North Star Investment Management Corp. grew its holdings in Dover by 93.0% in the first quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 120 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Performance

NYSE DOV opened at $175.05 on Friday. The business’s 50-day moving average price is $180.42 and its 200 day moving average price is $177.84. Dover Co. has a twelve month low of $127.25 and a twelve month high of $192.31. The company has a market capitalization of $24.06 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 2.21 and a beta of 1.22. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Dover (NYSE:DOV) last released its earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.15. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.05 earnings per share. On average, research analysts predict that Dover Co. will post 9.17 earnings per share for the current 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 issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.18%. This is an increase from Dover’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, August 30th. Dover’s dividend payout ratio (DPR) is 19.79%.

Insider Transactions at Dover

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the transaction, the senior vice president now directly owns 47,060 shares in the company, valued at approximately $8,706,100. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the transaction, the senior vice president now directly owns 47,060 shares in the company, valued at approximately $8,706,100. The transaction was disclosed in a document filed 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 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 transaction, the chief executive officer now owns 182,928 shares in the company, valued at $33,285,578.88. The disclosure for this sale can be found here. Insiders have sold a total of 30,565 shares of company stock worth $5,576,733 in the last three months. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.