Dover Co. (NYSE:DOV) Shares Sold by APG Asset Management N.V.

APG Asset Management N.V. lessened its holdings in Dover Co. (NYSE:DOV) by 91.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,258 shares of the industrial products company’s stock after selling 251,786 shares during the period. APG Asset Management N.V.’s holdings in Dover were worth $3,748,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. LRI Investments LLC acquired a new stake in shares of Dover in the first quarter valued at $27,000. McClarren Financial Advisors Inc. grew its holdings in shares of Dover by 4,400.0% in the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 176 shares in the last quarter. Fairscale Capital LLC purchased a new stake in Dover during the 2nd quarter worth approximately $34,000. Transcendent Capital Group LLC lifted its holdings in Dover by 208.0% during the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after buying an additional 156 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Dover in the 2nd quarter valued at approximately $41,000. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Activity

In related news, CEO Richard J. Tobin sold 25,004 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 182,928 shares in the company, valued at approximately $33,285,578.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Dover news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction on 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 transaction, the chief executive officer now directly owns 182,928 shares in the company, valued at $33,285,578.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the 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 sale, the senior vice president now owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The disclosure for this sale can be found here. Over 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 company insiders.

Dover Stock Performance

Shares of Dover stock opened at $192.78 on Monday. The firm has a market capitalization of $26.49 billion, a P/E ratio of 18.52, a P/E/G ratio of 2.27 and a beta of 1.22. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55. Dover Co. has a 52 week low of $127.25 and a 52 week high of $194.75. The firm’s 50 day moving average is $182.29 and its two-hundred day moving average is $180.23.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. Dover’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.05 earnings per share. Research analysts forecast that Dover Co. will post 9.17 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $0.515 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.07%. This is a boost from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio is currently 19.79%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Mizuho increased their price objective on 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 lifted their price objective on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Robert W. Baird restated an “outperform” rating and set a $208.00 target price on shares of Dover in a research note on Monday, July 22nd. Finally, Wolfe Research upgraded shares of Dover to a “hold” rating in a research note on Friday, September 20th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.