Dover Co. (NYSE:DOV) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN cut its holdings in Dover Co. (NYSE:DOV) by 10.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,737 shares of the industrial products company’s stock after selling 207 shares during the period. OLD National Bancorp IN’s holdings in Dover were worth $333,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of DOV. LRI Investments LLC acquired a new position in Dover in the first quarter valued at approximately $27,000. McClarren Financial Advisors Inc. boosted its position in Dover by 4,400.0% during the 2nd 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 during the period. Fairscale Capital LLC bought a new position in Dover during the 2nd quarter worth $34,000. Transcendent Capital Group LLC increased its position in Dover by 208.0% in 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 bought a new stake in Dover in the second quarter valued at $41,000. Institutional investors own 84.46% of the company’s stock.

Dover Price Performance

NYSE DOV opened at $191.40 on Wednesday. Dover Co. has a 1 year low of $127.25 and a 1 year high of $195.68. The business’s fifty day moving average is $185.95 and its two-hundred day moving average is $181.92. The stock has a market capitalization of $26.30 billion, a P/E ratio of 18.39, a P/E/G ratio of 2.20 and a beta of 1.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53.

Dover (NYSE:DOV) last announced its earnings results 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. The business had revenue of $2.18 billion during 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 was up 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.05 earnings per share. On average, research analysts forecast that Dover Co. will post 9.18 earnings per share for the current fiscal year.

Dover Increases Dividend

The company 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. This represents a $2.06 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Friday, August 30th. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio is 19.79%.

Insider Buying and Selling

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the sale, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, 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 value of $225,700.00. Following the completion of the sale, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brad M. Cerepak sold 4,341 shares of Dover stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total value of $801,305.19. Following the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,274,887.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,383 shares of company stock valued at $8,169,883. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on DOV shares. Barclays increased their price objective on shares of Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Robert W. Baird restated an “outperform” rating and issued a $208.00 price target on shares of Dover in a research note on Monday, July 22nd. Wolfe Research raised Dover to a “hold” rating in a report on Friday, September 20th. Royal Bank of Canada lifted their target price on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Finally, Mizuho raised their price target on Dover from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.