Exchange Traded Concepts LLC Boosts Holdings in Dover Co. (NYSE:DOV)

Exchange Traded Concepts LLC boosted its position in shares of Dover Co. (NYSE:DOV) by 488.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,295 shares of the industrial products company’s stock after buying an additional 1,075 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Dover were worth $248,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of DOV. Price T Rowe Associates Inc. MD boosted its stake in Dover by 153.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after buying an additional 1,595,611 shares during the period. American Century Companies Inc. boosted its stake in Dover by 162.2% during the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock worth $124,195,000 after buying an additional 425,768 shares during the period. Interval Partners LP boosted its stake in Dover by 110.0% during the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock worth $105,216,000 after buying an additional 305,436 shares during the period. Kimelman & Baird LLC purchased a new position in Dover during the second quarter worth $17,323,000. Finally, Earnest Partners LLC boosted its stake in shares of Dover by 31.5% during the first quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock valued at $70,370,000 after purchasing an additional 95,056 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,156,700. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Brad M. Cerepak sold 14,818 shares of the company’s 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 transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the company’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 in the company, valued at approximately $8,706,100. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,383 shares of company stock worth $8,169,883. 1.30% of the stock is owned by corporate insiders.

Dover Stock Down 0.3 %

NYSE:DOV opened at $194.38 on Monday. The firm has a market cap of $26.71 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 2.20 and a beta of 1.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. The company has a 50-day moving average of $185.58 and a 200 day moving average of $181.73. Dover Co. has a 1-year low of $127.25 and a 1-year high of $195.68.

Dover (NYSE:DOV) last announced its earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.05 earnings per share. As a group, research analysts anticipate that Dover Co. will post 9.18 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $0.515 dividend. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a yield of 1.06%. Dover’s payout ratio is currently 19.79%.

Wall Street Analysts Forecast Growth

DOV has been the subject of a number of recent analyst reports. Mizuho boosted their target price on shares of Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday. Wells Fargo & Company boosted their target price on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Robert W. Baird reissued an “outperform” rating and set a $208.00 target price on shares of Dover in a research note on Monday, July 22nd. 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. Finally, Barclays boosted their target price on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $198.75.

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.