Prio Wealth Limited Partnership Sells 2,294 Shares of Dover Co. (NYSE:DOV)

Prio Wealth Limited Partnership trimmed its stake in Dover Co. (NYSE:DOV) by 20.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,131 shares of the industrial products company’s stock after selling 2,294 shares during the period. Prio Wealth Limited Partnership’s holdings in Dover were worth $1,648,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of DOV. Stifel Financial Corp increased its position in shares of Dover by 6.6% in the fourth quarter. Stifel Financial Corp now owns 65,956 shares of the industrial products company’s stock worth $10,145,000 after purchasing an additional 4,057 shares during the last quarter. Bank of Nova Scotia boosted its stake in Dover by 33.8% in the fourth quarter. Bank of Nova Scotia now owns 17,348 shares of the industrial products company’s stock worth $2,668,000 after buying an additional 4,385 shares in the last quarter. California State Teachers Retirement System boosted its stake in Dover by 1.0% in the fourth quarter. California State Teachers Retirement System now owns 215,891 shares of the industrial products company’s stock worth $33,206,000 after buying an additional 2,106 shares in the last quarter. CWA Asset Management Group LLC purchased a new stake in Dover in the fourth quarter worth approximately $268,000. Finally, NEOS Investment Management LLC boosted its stake in Dover by 33.0% in the fourth quarter. NEOS Investment Management LLC now owns 1,984 shares of the industrial products company’s stock worth $305,000 after buying an additional 492 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the transaction, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the transaction, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction 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 transaction, 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 90 days, insiders sold 45,383 shares of company stock worth $8,169,883. 1.30% of the stock is owned by corporate insiders.

Dover Stock Performance

Shares of DOV stock opened at $190.27 on Thursday. The stock has a fifty day moving average of $182.99 and a 200 day moving average of $180.52. Dover Co. has a 52 week low of $127.25 and a 52 week high of $194.75. The firm has a market capitalization of $26.15 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.27 and a beta of 1.22. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55.

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 analysts’ consensus estimates of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the firm posted $2.05 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. As a group, research analysts expect that Dover Co. will post 9.17 earnings per share for the current year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $0.515 dividend. This is an increase from Dover’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.08%. Dover’s dividend payout ratio is 19.79%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wells Fargo & Company upped their target price on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research note on Monday. Wolfe Research raised Dover to a “hold” rating in a research note on Friday, September 20th. Royal Bank of Canada increased their price objective on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Barclays increased their price objective on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Robert W. Baird reissued an “outperform” rating and set a $208.00 price objective on shares of Dover in a research note on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $194.00.

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.