MBB Public Markets I LLC Invests $1.79 Million in Dover Co. (NYSE:DOV)

MBB Public Markets I LLC bought a new stake in Dover Co. (NYSE:DOV) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,900 shares of the industrial products company’s stock, valued at approximately $1,786,000.

A number of other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake in shares of Dover by 12.0% in the second quarter. AQR Capital Management LLC now owns 48,379 shares of the industrial products company’s stock worth $8,730,000 after purchasing an additional 5,194 shares during the last quarter. AXA S.A. increased its position in shares of Dover by 19.6% during the second quarter. AXA S.A. now owns 220,806 shares of the industrial products company’s stock valued at $39,844,000 after buying an additional 36,129 shares during the period. Insigneo Advisory Services LLC raised its position in shares of Dover by 5.7% in the second quarter. Insigneo Advisory Services LLC now owns 2,944 shares of the industrial products company’s stock worth $509,000 after buying an additional 158 shares in the last quarter. Royal Capital Wealth Management LLC purchased a new stake in Dover in the second quarter valued at approximately $203,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Dover by 57.5% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 26,313 shares of the industrial products company’s stock valued at $4,748,000 after purchasing an additional 9,611 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Dover

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s 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 transaction, the senior vice president now 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 Securities & Exchange Commission, which is available at this link. In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the transaction, the senior vice president now 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 Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The disclosure for this sale can be found here. Insiders have sold 45,383 shares of company stock worth $8,169,883 over the last quarter. Insiders own 1.30% of the company’s stock.

Dover Stock Down 0.1 %

DOV opened at $192.78 on Monday. Dover Co. has a 1-year low of $127.25 and a 1-year high of $194.75. The firm’s 50 day simple moving average is $182.29 and its two-hundred day simple moving average is $180.23. The company has a market capitalization of $26.49 billion, a PE ratio of 18.52, a PEG ratio of 2.27 and a beta of 1.22. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Dover (NYSE:DOV) last posted 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 business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the prior year, the company posted $2.05 EPS. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities analysts forecast that Dover Co. will post 9.17 EPS for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a $0.515 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.06 annualized dividend and a yield of 1.07%. This is a positive change from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio (DPR) is currently 19.79%.

Analyst Upgrades and Downgrades

DOV has been the topic of a number of analyst reports. Robert W. Baird reaffirmed an “outperform” rating and issued a $208.00 price target on shares of Dover in a research note on Monday, July 22nd. Mizuho boosted their price objective on shares of Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Royal Bank of Canada raised their price target on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Finally, Wolfe Research raised Dover to a “hold” rating in a research report on Friday, September 20th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Dover currently has a consensus rating of “Moderate Buy” and an average price target of $192.63.

Dover Company 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.