Trust Co. of Toledo NA OH Sells 100 Shares of Dover Co. (NYSE:DOV)

Trust Co. of Toledo NA OH trimmed its position in Dover Co. (NYSE:DOV) by 2.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,425 shares of the industrial products company’s stock after selling 100 shares during the period. Trust Co. of Toledo NA OH’s holdings in Dover were worth $657,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its holdings 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 valued at $466,622,000 after buying an additional 1,595,611 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Dover by 162.2% in 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 in the last quarter. Wellington Management Group LLP raised its holdings 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 worth $189,433,000 after purchasing an additional 414,481 shares during the period. Interval Partners LP lifted its position in Dover by 110.0% during the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after purchasing an additional 305,436 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new stake in Dover during the second quarter valued at about $17,323,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Trading Down 0.3 %

Shares of DOV opened at $189.64 on Friday. The stock has a market capitalization of $26.06 billion, a PE ratio of 18.22, a P/E/G ratio of 2.27 and a beta of 1.22. The company’s fifty day moving average is $182.99 and its 200 day moving average is $180.52. 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 Co. has a fifty-two week low of $127.25 and a fifty-two week high of $194.75.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period last year, the company earned $2.05 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Sell-side analysts expect that Dover Co. will post 9.17 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.09%. This is an increase from Dover’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, August 30th. Dover’s dividend payout ratio is presently 19.79%.

Insider Activity at Dover

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 sale, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the company’s 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 sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the transaction, the senior vice president now owns 47,060 shares in the company, valued at approximately $8,706,100. The disclosure for this sale can be found here. Insiders sold a total of 45,383 shares of company stock worth $8,169,883 in the last quarter. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on DOV. Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 price objective on shares of Dover in a research report on Monday, July 22nd. Royal Bank of Canada lifted their price target on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Mizuho increased their price objective on shares of Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Wells Fargo & Company lifted their target price on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Barclays increased their price target on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $194.00.

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.