Ecofi Investissements SA Invests $8.53 Million in Dover Co. (NYSE:DOV)

Ecofi Investissements SA purchased a new position in shares of Dover Co. (NYSE:DOV) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 50,350 shares of the industrial products company’s stock, valued at approximately $8,531,000. Dover comprises approximately 4.7% of Ecofi Investissements SA’s investment portfolio, making the stock its 10th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. LRI Investments LLC bought a new position in Dover during the first quarter valued at $27,000. McClarren Financial Advisors Inc. lifted its position in shares of Dover by 4,400.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after buying an additional 176 shares during the last quarter. Fairscale Capital LLC purchased a new stake in Dover in the 2nd quarter worth about $34,000. Transcendent Capital Group LLC increased its holdings in Dover by 208.0% in the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 156 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Dover in the 2nd quarter valued at about $41,000. 84.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s 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 transaction, the chief financial officer now 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 can be accessed through this link. In related news, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction 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 transaction, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brad M. Cerepak sold 4,341 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the completion of the sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at approximately $2,274,887.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,383 shares of company stock valued at $8,169,883. Insiders own 1.30% of the company’s stock.

Dover Trading Down 0.1 %

NYSE:DOV opened at $192.78 on Monday. Dover Co. has a one year low of $127.25 and a one year high of $194.75. The company’s 50-day simple moving average is $182.29 and its 200 day simple moving average is $180.23. The firm has a market capitalization of $26.49 billion, a P/E ratio of 18.52, a PEG ratio of 2.27 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.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. Dover’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.05 EPS. As a group, analysts forecast that Dover Co. will post 9.17 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $0.515 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.07%. This is a positive change from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio is presently 19.79%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wolfe Research raised Dover to a “hold” rating in a report on Friday, September 20th. Royal Bank of Canada increased their price target on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Mizuho raised their price objective on shares of 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 set a $208.00 target price on shares of Dover in a report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Dover presently has a consensus rating of “Moderate Buy” and an average price target of $192.63.

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.