Harmony Asset Management LLC Sells 41,705 Shares of Dover Co. (NYSE:DOV)

Harmony Asset Management LLC lessened its position in shares of Dover Co. (NYSE:DOV) by 71.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,831 shares of the industrial products company’s stock after selling 41,705 shares during the period. Dover comprises 1.3% of Harmony Asset Management LLC’s holdings, making the stock its 22nd largest position. Harmony Asset Management LLC’s holdings in Dover were worth $3,037,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of DOV. Price T Rowe Associates Inc. MD raised its position in Dover by 153.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock valued at $466,622,000 after buying an additional 1,595,611 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Dover by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock valued at $271,702,000 after acquiring an additional 60,912 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Dover by 50.7% in the 4th quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock valued at $189,433,000 after acquiring an additional 414,481 shares during the period. American Century Companies Inc. increased its stake in shares of Dover by 162.2% during the 2nd quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock worth $124,195,000 after purchasing an additional 425,768 shares during the last quarter. Finally, Earnest Partners LLC raised its holdings in shares of Dover by 31.5% in the 1st quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock valued at $70,370,000 after purchasing an additional 95,056 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Buying and Selling at Dover

In other news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction on 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 transaction, the chief executive officer now owns 182,928 shares in the company, valued at approximately $33,285,578.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 182,928 shares of the company’s stock, valued at $33,285,578.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 sale, 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 sold a total of 45,383 shares of company stock worth $8,169,883 over the last three months. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Royal Bank of Canada lifted their price target on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Robert W. Baird restated an “outperform” rating and issued a $208.00 price target on shares of Dover in a research note on Monday, July 22nd. Finally, Mizuho raised their price target on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and an average price target of $192.63.

Dover Stock Performance

Shares of NYSE DOV opened at $189.12 on Monday. 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 firm has a market cap of $25.99 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 2.17 and a beta of 1.22. The stock’s fifty day moving average price is $181.83 and its two-hundred day moving average price is $179.57. Dover Co. has a one year low of $127.25 and a one year high of $192.31.

Dover (NYSE:DOV) last announced its quarterly earnings data 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. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.05 EPS. On average, equities analysts forecast that Dover Co. will post 9.17 EPS for the current year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.515 dividend. The ex-dividend date of this dividend was 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 1.09%. Dover’s payout ratio is presently 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.