Ballentine Partners LLC Raises Position in Dover Co. (NYSE:DOV)

Ballentine Partners LLC boosted its holdings in shares of Dover Co. (NYSE:DOV) by 7.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,884 shares of the industrial products company’s stock after buying an additional 136 shares during the period. Ballentine Partners LLC’s holdings in Dover were worth $340,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Dover by 5.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company’s stock worth $215,000 after purchasing an additional 62 shares in the last quarter. Valmark Advisers Inc. increased its holdings in shares of Dover by 1.6% in the 2nd quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock worth $715,000 after buying an additional 63 shares during the last quarter. CWM LLC raised its position in shares of Dover by 2.7% during the 1st quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock valued at $435,000 after buying an additional 65 shares in the last quarter. Wedmont Private Capital lifted its holdings in shares of Dover by 4.0% during the 1st quarter. Wedmont Private Capital now owns 1,778 shares of the industrial products company’s stock worth $315,000 after acquiring an additional 68 shares during the last quarter. Finally, Manchester Capital Management LLC grew its position in Dover by 4.1% in the fourth quarter. Manchester Capital Management LLC now owns 1,752 shares of the industrial products company’s stock worth $269,000 after acquiring an additional 69 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Dover

In other news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,156,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the sale, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 completion of the transaction, the senior vice president now owns 47,060 shares of the company’s stock, valued at $8,706,100. The disclosure for this sale can be found here. Insiders sold 45,383 shares of company stock valued at $8,169,883 in the last 90 days. Insiders own 1.30% of the company’s stock.

Dover Stock Performance

Shares of DOV stock opened at $183.10 on Thursday. The company has a market capitalization of $25.16 billion, a P/E ratio of 17.59, a PEG ratio of 2.08 and a beta of 1.22. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week 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. The stock has a 50 day moving average price of $180.57 and a two-hundred day moving average price of $178.45.

Dover (NYSE:DOV) last posted 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. The company had revenue of $2.18 billion during 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 revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.05 EPS. Analysts expect that Dover Co. will post 9.17 earnings per share for the current year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a $0.515 dividend. The ex-dividend date of this dividend is Friday, August 30th. 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 1.13%. Dover’s dividend payout ratio (DPR) is presently 19.79%.

Analyst Upgrades and Downgrades

DOV has been the topic of a number of research reports. Robert W. Baird restated an “outperform” rating and set a $208.00 price target on shares of Dover in a research report on Monday, July 22nd. Mizuho boosted their target price on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada increased their price target on shares of 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $192.63.

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.