Dover Co. (NYSE:DOV) Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC lessened its holdings in Dover Co. (NYSE:DOV) by 27.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,942 shares of the industrial products company’s stock after selling 6,179 shares during the quarter. NewEdge Advisors LLC’s holdings in Dover were worth $2,877,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. LRI Investments LLC acquired a new stake in Dover in the 1st quarter worth approximately $27,000. McClarren Financial Advisors Inc. raised 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 worth $32,000 after buying an additional 176 shares during the last quarter. Fairscale Capital LLC purchased a new position in shares of Dover in the second quarter worth $34,000. Transcendent Capital Group LLC lifted its stake in shares of Dover by 208.0% during the first 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 during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Dover during the second quarter valued at $41,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on DOV. Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 price target on shares of Dover in a research report on Monday, July 22nd. Royal Bank of Canada upped their target price on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Wolfe Research upgraded shares of Dover to a “hold” rating in a report on Friday, September 20th. Barclays lifted their price objective on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Wells Fargo & Company raised their target price on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $194.00.

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 directly owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total transaction of $801,305.19. Following the completion of the sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’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 in the company, valued at $8,706,100. The disclosure for this sale can be found here. Insiders have sold a total of 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 Trading Down 0.3 %

Shares of Dover stock opened at $189.64 on Friday. Dover Co. has a fifty-two week low of $127.25 and a fifty-two 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 company has a market cap of $26.06 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. The firm has a 50-day simple moving average of $182.99 and a two-hundred day simple moving average of $180.52.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. Dover’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.05 earnings per share. As a group, equities analysts predict that Dover Co. will post 9.17 earnings per share for the current fiscal year.

Dover Increases Dividend

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

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.