1832 Asset Management L.P. Grows Stock Holdings in Dover Co. (NYSE:DOV)

1832 Asset Management L.P. lifted its position in Dover Co. (NYSE:DOV) by 11.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,427 shares of the industrial products company’s stock after buying an additional 2,832 shares during the quarter. 1832 Asset Management L.P.’s holdings in Dover were worth $5,130,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DOV. Price T Rowe Associates Inc. MD increased its stake in Dover by 153.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after purchasing an additional 1,595,611 shares during the period. American Century Companies Inc. lifted its holdings in 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 buying an additional 425,768 shares in the last quarter. Wellington Management Group LLP boosted its position in 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 buying an additional 414,481 shares during the period. Interval Partners LP acquired a new position in shares of Dover in the first quarter worth $49,195,000. Finally, Earnest Partners LLC increased its position in shares of Dover by 31.5% during the first quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock worth $70,370,000 after acquiring an additional 95,056 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on DOV shares. Mizuho lifted their target price on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Royal Bank of Canada upped their target price 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. Robert W. Baird reaffirmed an “outperform” rating and issued a $208.00 target price on shares of Dover in a report on Monday, July 22nd. Finally, Wolfe Research upgraded shares of Dover to a “hold” rating in a report on Friday, September 20th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and an average target price of $192.63.

Dover Stock Up 0.9 %

DOV stock opened at $192.74 on Wednesday. The stock has a market cap of $26.49 billion, a P/E ratio of 18.51, a PEG ratio of 2.17 and a beta of 1.22. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Dover Co. has a twelve month low of $127.25 and a twelve month high of $193.12. The company’s 50 day moving average is $181.97 and its two-hundred day moving average is $179.86.

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. Dover had a net margin of 17.58% and a return on equity of 24.94%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same period last year, the business earned $2.05 EPS. Dover’s revenue for the quarter was up 3.7% compared to the same quarter last year. Research analysts expect that Dover Co. will post 9.17 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a $0.515 dividend. The ex-dividend date was 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 dividend yield of 1.07%. Dover’s dividend payout ratio is 19.79%.

Insiders Place Their Bets

In other news, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction that occurred on 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 directly owns 12,324 shares of the company’s stock, valued at $2,156,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,156,700. The disclosure for this sale can be found here. Insiders have sold a total of 45,383 shares of company stock valued at $8,169,883 over the last quarter. Company insiders own 1.30% of the company’s stock.

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.