Dover Co. (NYSE:DOV) Shares Sold by SVB Wealth LLC

SVB Wealth LLC lessened its position in shares of Dover Co. (NYSE:DOV) by 8.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,130 shares of the industrial products company’s stock after selling 1,456 shares during the period. SVB Wealth LLC’s holdings in Dover were worth $2,911,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in shares of 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 worth $466,622,000 after purchasing an additional 1,595,611 shares in the last quarter. Norges Bank acquired a new position in shares of Dover during the 4th quarter worth about $175,275,000. Franklin Resources Inc. increased its holdings in shares of Dover by 15.4% in the 4th quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock valued at $567,426,000 after acquiring an additional 492,577 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Dover by 50.7% during 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 acquiring an additional 414,481 shares in the last quarter. Finally, Interval Partners LP purchased a new stake in Dover during the first quarter worth approximately $49,195,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Trading Up 0.2 %

Shares of Dover stock opened at $175.38 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53. The company has a market capitalization of $24.10 billion, a P/E ratio of 16.85, a PEG ratio of 2.21 and a beta of 1.22. Dover Co. has a 1 year low of $127.25 and a 1 year high of $192.31. The company’s fifty day moving average is $180.32 and its two-hundred day moving average is $178.06.

Dover (NYSE:DOV) last issued its quarterly earnings results 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 firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts forecast 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 will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.17%. This is a positive change from Dover’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, August 30th. Dover’s dividend payout ratio (DPR) is 19.79%.

Insider Buying and Selling at Dover

In other news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total value of $4,549,727.84. Following the sale, the chief executive officer now owns 182,928 shares of the company’s stock, valued at $33,285,578.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Brad M. Cerepak sold 4,341 shares of Dover stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 in the company, valued at $2,274,887.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,565 shares of company stock valued at $5,576,733. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on DOV shares. Mizuho increased their price target on shares of Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Royal Bank of Canada increased their target price on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $208.00 price target on shares of Dover in a research report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.