Dover Co. (NYSE:DOV) Shares Sold by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co decreased its stake in Dover Co. (NYSE:DOV) by 19.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,406 shares of the industrial products company’s stock after selling 18,712 shares during the period. Varma Mutual Pension Insurance Co owned approximately 0.06% of Dover worth $14,329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. LRI Investments LLC acquired a new position in Dover during the first quarter worth about $27,000. McClarren Financial Advisors Inc. raised its position in Dover by 4,400.0% during the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 176 shares during the last quarter. Northwest Financial Advisors acquired a new position in Dover during the fourth quarter worth about $36,000. Transcendent Capital Group LLC raised its position in 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 acquiring an additional 156 shares during the last quarter. Finally, North Star Investment Management Corp. raised its position in Dover by 93.0% during the first quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 120 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Performance

Shares of NYSE DOV opened at $175.38 on Monday. The company has a market cap of $24.11 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 2.08 and a beta of 1.22. Dover Co. has a 12 month low of $127.25 and a 12 month high of $192.31. 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 simple moving average of $180.32 and a 200-day simple moving average of $178.18.

Dover (NYSE:DOV) last released its earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. Dover had a net margin of 17.58% and a return on equity of 24.94%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the firm earned $2.05 earnings per share. Dover’s revenue was up 3.7% compared to the same quarter last year. On average, equities analysts anticipate that Dover Co. will post 9.17 earnings per share for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.17%. This is an increase from Dover’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, August 30th. Dover’s payout ratio is presently 19.79%.

Insider Activity at Dover

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were 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 in the company, valued at $8,706,100. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were 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 in the company, valued at $8,706,100. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 owns 182,928 shares of the company’s stock, valued at $33,285,578.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,565 shares of company stock worth $5,576,733. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on DOV shares. Robert W. Baird restated an “outperform” rating and set a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. Mizuho lifted their target price on shares of Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada lifted their target price on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $192.63.

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.