Dover Co. (NYSE:DOV) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank decreased its stake in shares of Dover Co. (NYSE:DOV) by 15.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 67,149 shares of the industrial products company’s stock after selling 11,994 shares during the quarter. Toronto Dominion Bank’s holdings in Dover were worth $12,117,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of DOV. Price T Rowe Associates Inc. MD lifted its holdings in Dover by 153.7% during the 1st 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 buying an additional 1,595,611 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 worth $271,702,000 after purchasing an additional 60,912 shares during the period. Wellington Management Group LLP increased its stake in Dover by 50.7% during the fourth quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock valued at $189,433,000 after purchasing an additional 414,481 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Dover by 162.2% during the second 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 period. Finally, Interval Partners LP lifted its position in shares of Dover by 110.0% in the 2nd quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock worth $105,216,000 after buying an additional 305,436 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Trading Down 0.1 %

Shares of DOV stock opened at $192.75 on Friday. Dover Co. has a 1 year low of $127.25 and a 1 year high of $194.75. The firm has a market capitalization of $26.49 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. The stock has a fifty day moving average of $182.29 and a two-hundred day moving average of $180.17. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 earnings per share. As a group, research analysts expect 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. Investors of record on Friday, August 30th were issued a dividend of $0.515 per share. This is a boost from Dover’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.06 annualized dividend and a yield of 1.07%. Dover’s payout ratio is presently 19.79%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on DOV shares. Wolfe Research upgraded shares of Dover to a “hold” rating in a research note on Friday, September 20th. Royal Bank of Canada increased their price target on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Mizuho boosted their price objective on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.63.

Insiders Place Their Bets

In other news, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction on Friday, September 6th. The stock was sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,156,700. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the transaction, the senior vice president now owns 47,060 shares in the company, valued at approximately $8,706,100. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was 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 45,383 shares of company stock worth $8,169,883 over the last ninety days. Company insiders own 1.30% of the company’s stock.

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.