Lombard Odier Asset Management Europe Ltd Increases Stock Holdings in Dover Co. (NYSE:DOV)

Lombard Odier Asset Management Europe Ltd boosted its holdings in Dover Co. (NYSE:DOV) by 177.0% during the second quarter, Holdings Channel reports. The institutional investor owned 41,818 shares of the industrial products company’s stock after buying an additional 26,722 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Dover were worth $7,546,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. grew its stake in shares of Dover by 5.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company’s stock valued at $215,000 after acquiring an additional 62 shares in the last quarter. Valmark Advisers Inc. lifted its holdings in Dover by 1.6% in the second quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock worth $715,000 after acquiring an additional 63 shares during the last quarter. CWM LLC boosted its stake in Dover by 2.7% in the first quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock valued at $435,000 after acquiring an additional 65 shares during the period. Wedmont Private Capital grew its holdings in shares of Dover by 4.0% during the first 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 during the last quarter. Finally, Mather Group LLC. raised its position 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 worth $557,000 after purchasing an additional 71 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insiders Place Their Bets

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,156,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 directly owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The disclosure for this sale can be found here. Insiders sold 45,383 shares of company stock valued at $8,169,883 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Dover Price Performance

Shares of NYSE:DOV opened at $189.12 on Monday. The stock has a fifty day moving average of $181.83 and a 200-day moving average of $179.57. The company has a market capitalization of $25.99 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.17 and a beta of 1.22. 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 one year low of $127.25 and a one year high of $192.31.

Dover (NYSE:DOV) last issued its earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS 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 business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter last year, the firm posted $2.05 earnings per share. Dover’s revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts anticipate that Dover Co. will post 9.17 EPS for the current fiscal year.

Dover Increases Dividend

The firm 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 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio (DPR) is presently 19.79%.

Analysts Set New Price Targets

A number of research analysts recently commented on DOV shares. Robert W. Baird restated an “outperform” rating and set a $208.00 price objective on shares of Dover in a research note on Monday, July 22nd. Mizuho lifted their price objective on shares of Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada boosted their target price on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $192.63.

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.