Sentry Investment Management LLC Sells 125 Shares of Dover Co. (NYSE:DOV)

Sentry Investment Management LLC reduced its position in Dover Co. (NYSE:DOV) by 17.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 611 shares of the industrial products company’s stock after selling 125 shares during the period. Sentry Investment Management LLC’s holdings in Dover were worth $110,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DOV. BNP Paribas Financial Markets raised its position in Dover by 27.4% in the 1st quarter. BNP Paribas Financial Markets now owns 166,211 shares of the industrial products company’s stock worth $29,451,000 after buying an additional 35,750 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of 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 holdings in Dover by 9.2% in 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 last quarter. Norges Bank bought a new stake in Dover in the 4th quarter worth approximately $175,275,000. Finally, Hsbc Holdings PLC raised its stake in Dover by 14.2% during the 4th quarter. Hsbc Holdings PLC now owns 281,912 shares of the industrial products company’s stock valued at $43,330,000 after buying an additional 35,109 shares during the last quarter. 84.46% of the stock is owned by institutional investors.

Insider Activity at Dover

In other Dover news, CFO Brad M. Cerepak sold 4,341 shares of the stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Brad M. Cerepak sold 4,341 shares of the firm’s 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 transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,274,887.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of the business’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 sale, 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. In the last 90 days, insiders have sold 45,383 shares of company stock valued at $8,169,883. 1.30% of the stock is owned by company insiders.

Dover Stock Performance

DOV opened at $186.63 on Friday. The firm has a market cap of $25.65 billion, a P/E ratio of 17.93, a PEG ratio of 2.08 and a beta of 1.22. Dover Co. has a 1-year low of $127.25 and a 1-year high of $192.31. The company has a 50 day simple moving average of $180.76 and a two-hundred day simple moving average of $178.50. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95.

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, beating analysts’ consensus estimates of $2.21 by $0.15. Dover had a net margin of 17.58% and a return on equity of 24.94%. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the previous year, the company earned $2.05 EPS. Dover’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities analysts forecast that Dover Co. will post 9.17 earnings per share for the current fiscal 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 dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.10%. The ex-dividend date is Friday, August 30th. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio (DPR) is 19.79%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DOV. Mizuho lifted 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. Royal Bank of Canada upped 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. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 target price 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, Dover has a consensus 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.