Royal London Asset Management Ltd. Sells 258 Shares of Dover Co. (NYSE:DOV)

Royal London Asset Management Ltd. trimmed its position in shares of Dover Co. (NYSE:DOV) by 0.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,020 shares of the industrial products company’s stock after selling 258 shares during the period. Royal London Asset Management Ltd.’s holdings in Dover were worth $11,733,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. BNP Paribas Financial Markets grew its stake in shares of Dover by 27.4% during the 1st quarter. BNP Paribas Financial Markets now owns 166,211 shares of the industrial products company’s stock worth $29,451,000 after acquiring an additional 35,750 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Dover by 14.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 202,659 shares of the industrial products company’s stock valued at $35,909,000 after purchasing an additional 25,562 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Dover by 9.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 226,382 shares of the industrial products company’s stock worth $34,820,000 after purchasing an additional 19,156 shares during the period. Norges Bank bought a new position in Dover during the fourth quarter worth about $175,275,000. Finally, Hsbc Holdings PLC increased its stake in shares of Dover by 14.2% in the fourth quarter. Hsbc Holdings PLC now owns 281,912 shares of the industrial products company’s stock worth $43,330,000 after purchasing an additional 35,109 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Trading Up 1.9 %

Shares of DOV stock opened at $186.63 on Friday. The company has a market capitalization of $25.65 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 2.08 and a beta of 1.22. Dover Co. has a 52-week low of $127.25 and a 52-week high of $192.31. The business’s fifty day moving average is $180.76 and its 200 day moving average is $178.50. 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 (NYSE:DOV) last released 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 return on equity of 24.94% and a net margin of 17.58%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter last year, the firm posted $2.05 EPS. The company’s revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts anticipate that Dover Co. will post 9.17 EPS for the current fiscal year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Friday, August 30th. This is a boost from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio is currently 19.79%.

Insider Transactions at Dover

In other news, CFO Brad M. Cerepak sold 4,341 shares of Dover stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total transaction of $801,305.19. Following the completion of the sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at approximately $2,274,887.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Dover news, CFO Brad M. Cerepak sold 4,341 shares of Dover stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total transaction of $801,305.19. Following the completion of the sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. The disclosure for this sale can be found here. Insiders have sold 45,383 shares of company stock valued at $8,169,883 in the last quarter. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on DOV shares. Mizuho upped their price target on shares of Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Robert W. Baird restated an “outperform” rating and set a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. Finally, Royal Bank of Canada lifted their price target 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 investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.63.

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.