EP Wealth Advisors LLC Sells 211 Shares of Dover Co. (NYSE:DOV)

EP Wealth Advisors LLC reduced its holdings in shares of Dover Co. (NYSE:DOV) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,472 shares of the industrial products company’s stock after selling 211 shares during the quarter. EP Wealth Advisors LLC’s holdings in Dover were worth $3,694,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. LRI Investments LLC purchased a new position in shares of Dover in the 1st quarter worth about $27,000. McClarren Financial Advisors Inc. boosted its stake in 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 acquiring an additional 176 shares during the last quarter. Fairscale Capital LLC purchased a new stake in shares of Dover during the 2nd quarter worth approximately $34,000. Transcendent Capital Group LLC raised its holdings in shares of Dover by 208.0% in the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 156 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Dover in the second quarter valued at approximately $41,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Down 0.5 %

Shares of NYSE:DOV opened at $191.74 on Tuesday. The firm has a fifty day moving average of $182.51 and a 200 day moving average of $180.35. Dover Co. has a 52-week low of $127.25 and a 52-week high of $194.75. 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 firm has a market capitalization of $26.35 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22.

Dover (NYSE:DOV) last announced its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 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 analyst estimates of $2.15 billion. During the same period in the prior year, the company earned $2.05 EPS. The company’s revenue was up 3.7% on a year-over-year basis. As a group, research analysts anticipate that Dover Co. will post 9.17 EPS for the current fiscal year.

Dover Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Royal Bank of Canada raised their target price on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Wells Fargo & Company boosted their price objective on Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Monday. Robert W. Baird reiterated an “outperform” rating and set a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. Wolfe Research raised shares of Dover to a “hold” rating in a research report on Friday, September 20th. Finally, Mizuho raised their target price on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $193.50.

Insider Activity

In related news, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 182,928 shares in the company, valued at approximately $33,285,578.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the sale, the senior vice president now directly owns 47,060 shares in the company, valued at approximately $8,706,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 182,928 shares in the company, valued at approximately $33,285,578.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,383 shares of company stock valued at $8,169,883. 1.30% of the stock is currently owned by insiders.

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.