Vontobel Holding Ltd. Decreases Stake in Dover Co. (NYSE:DOV)

Vontobel Holding Ltd. cut its holdings in shares of Dover Co. (NYSE:DOV) by 3.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,391 shares of the industrial products company’s stock after selling 465 shares during the quarter. Vontobel Holding Ltd.’s holdings in Dover were worth $2,184,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of DOV. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Dover by 5.4% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company’s stock valued at $215,000 after purchasing an additional 62 shares in the last quarter. Valmark Advisers Inc. increased its holdings in shares of Dover by 1.6% during the 2nd quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock valued at $715,000 after purchasing an additional 63 shares in the last quarter. CWM LLC increased its holdings in shares of Dover by 2.7% during the 1st quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock valued at $435,000 after purchasing an additional 65 shares in the last quarter. Wedmont Private Capital increased its holdings in shares of Dover by 4.0% during the 1st quarter. Wedmont Private Capital now owns 1,778 shares of the industrial products company’s stock valued at $315,000 after purchasing an additional 68 shares in the last quarter. Finally, Mather Group LLC. increased its holdings in shares of Dover by 2.3% during the 2nd quarter. Mather Group LLC. now owns 3,145 shares of the industrial products company’s stock valued at $557,000 after purchasing an additional 71 shares in the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the sale, the chief executive officer now owns 182,928 shares in the company, valued at approximately $33,285,578.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Dover news, CEO Richard J. Tobin sold 25,004 shares of Dover 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 completion of the sale, the chief executive officer now owns 182,928 shares in the company, valued at $33,285,578.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the sale, the senior vice president now owns 47,060 shares of the company’s stock, valued at $8,706,100. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,383 shares of company stock worth $8,169,883. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. 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. Mizuho lifted their price target on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday. Oppenheimer reissued an “outperform” rating and issued a $215.00 price target (up previously from $210.00) on shares of Dover in a research note on Wednesday. Barclays lifted their price target on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company lifted their price target on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $198.75.

Dover Price Performance

Shares of NYSE DOV opened at $194.41 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. The stock has a fifty day moving average price of $185.58 and a 200 day moving average price of $181.68. Dover Co. has a 1-year low of $127.25 and a 1-year high of $195.68. The company has a market cap of $26.72 billion, a PE ratio of 18.68, a P/E/G ratio of 2.20 and a beta of 1.22.

Dover (NYSE:DOV) last released its earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. Dover’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 earnings per share. Sell-side analysts forecast that Dover Co. will post 9.18 EPS for the current year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Friday, August 30th. This is a boost from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio (DPR) is currently 19.79%.

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.