Victory Capital Management Inc. Has $16.41 Million Stock Holdings in Dover Co. (NYSE:DOV)

Victory Capital Management Inc. lessened its holdings in Dover Co. (NYSE:DOV) by 10.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,915 shares of the industrial products company’s stock after selling 10,648 shares during the period. Victory Capital Management Inc.’s holdings in Dover were worth $16,406,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in DOV. LRI Investments LLC acquired a new position in Dover in the first quarter worth about $27,000. McClarren Financial Advisors Inc. raised its position 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 worth $32,000 after purchasing an additional 176 shares in the last quarter. Transcendent Capital Group LLC raised its position in Dover by 208.0% in the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 156 shares in the last quarter. North Star Investment Management Corp. grew its stake in Dover by 93.0% during the first quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock worth $44,000 after buying an additional 120 shares during the last quarter. Finally, ORG Partners LLC grew its stake in Dover by 620.5% during the first quarter. ORG Partners LLC now owns 281 shares of the industrial products company’s stock worth $49,000 after buying an additional 242 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Price Performance

DOV opened at $186.63 on Friday. Dover Co. has a one year low of $127.25 and a one year high of $192.31. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. The company’s 50 day simple moving average is $180.76 and its 200-day simple moving average is $178.50. The stock has a market capitalization of $25.65 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 2.08 and a beta of 1.22.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.21 by $0.15. Dover had a net margin of 17.58% and a return on equity of 24.94%. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. Dover’s revenue was up 3.7% compared to the same quarter last year. Sell-side analysts anticipate that Dover Co. will post 9.17 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, August 30th. This is a boost from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a yield of 1.10%. Dover’s dividend payout ratio (DPR) is presently 19.79%.

Wall Street Analysts Forecast Growth

DOV has been the topic of several research analyst reports. Royal Bank of Canada upped 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. Mizuho upped their price objective on shares of Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 price objective 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 company. According to MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and a consensus price target of $192.63.

Insider Buying and Selling at Dover

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total value of $4,549,727.84. Following the transaction, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at $33,285,578.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total value of $4,549,727.84. Following the transaction, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at $33,285,578.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,383 shares of company stock valued at $8,169,883. 1.30% of the stock is currently owned by insiders.

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.