Dover Co. (NYSE:DOV) Shares Bought by First Eagle Investment Management LLC

First Eagle Investment Management LLC boosted its stake in shares of Dover Co. (NYSE:DOV) by 20.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,639 shares of the industrial products company’s stock after purchasing an additional 800 shares during the quarter. First Eagle Investment Management LLC’s holdings in Dover were worth $837,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Seven Eight Capital LP purchased a new stake in Dover in the second quarter valued at $845,000. Hsbc Holdings PLC raised its position in Dover by 6.5% in the second quarter. Hsbc Holdings PLC now owns 346,460 shares of the industrial products company’s stock valued at $62,588,000 after purchasing an additional 21,169 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in Dover by 20.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,208 shares of the industrial products company’s stock valued at $2,511,000 after purchasing an additional 2,425 shares during the period. Tredje AP fonden raised its position in Dover by 4.8% in the second quarter. Tredje AP fonden now owns 97,027 shares of the industrial products company’s stock valued at $17,509,000 after purchasing an additional 4,433 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. raised its position in Dover by 3.9% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 28,540 shares of the industrial products company’s stock valued at $5,150,000 after purchasing an additional 1,072 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

DOV has been the topic of several research analyst reports. Robert W. Baird reiterated an “outperform” rating and issued a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Royal Bank of Canada boosted their price objective on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Finally, Mizuho boosted their price objective on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $192.63.

Dover Price Performance

Shares of NYSE DOV opened at $189.12 on Friday. The stock’s 50-day moving average is $181.83 and its two-hundred day moving average is $179.51. 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 Co. has a 1-year low of $127.25 and a 1-year high of $192.31. The company has a market cap of $25.99 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 2.17 and a beta of 1.22.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, topping 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 company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the business earned $2.05 EPS. Dover’s revenue was up 3.7% on a year-over-year basis. Analysts forecast that Dover Co. will post 9.17 EPS for the current fiscal year.

Dover Increases Dividend

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

Insider Transactions at Dover

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,383 shares of company stock valued at $8,169,883. 1.30% of the stock is currently owned by corporate insiders.

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.