Wealth Alliance Decreases Position in Dover Co. (NYSE:DOV)

Wealth Alliance trimmed its position in shares of Dover Co. (NYSE:DOV) by 2.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,662 shares of the industrial products company’s stock after selling 91 shares during the quarter. Wealth Alliance’s holdings in Dover were worth $661,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in DOV. LRI Investments LLC purchased a new stake in shares of Dover in the first quarter valued at $27,000. McClarren Financial Advisors Inc. lifted its position in shares of 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 acquiring an additional 176 shares in the last quarter. Transcendent Capital Group LLC lifted its position in shares of 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 acquiring an additional 156 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Dover in the second quarter valued at $41,000. Finally, North Star Investment Management Corp. increased its stake 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. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Mizuho upped their target price on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Royal Bank of Canada upped their target price on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $208.00 target price on shares of Dover in a research note 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $192.63.

Insider Activity

In other news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of 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 legal filing with the SEC, which is available through this link. In other news, CEO Richard J. Tobin sold 25,004 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 completion of the sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,383 shares of company stock worth $8,169,883. 1.30% of the stock is currently owned by corporate insiders.

Dover Stock Performance

Shares of NYSE:DOV opened at $186.01 on Thursday. The firm has a market capitalization of $25.56 billion, a PE ratio of 17.87, a P/E/G ratio of 2.17 and a beta of 1.22. 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 business has a 50-day moving average of $181.40 and a two-hundred day moving average of $179.15. Dover Co. has a 12 month low of $127.25 and a 12 month high of $192.31.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, topping the consensus estimate 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 return on equity of 24.94% and a net margin of 17.58%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 earnings per share. As a group, research analysts forecast that Dover Co. will post 9.17 earnings per share for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.515 dividend. The ex-dividend date was Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.11%. This is a positive change from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio (DPR) is 19.79%.

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.