Dover Co. (NYSE:DOV) Shares Bought by Savant Capital LLC

Savant Capital LLC lifted its stake in shares of Dover Co. (NYSE:DOV) by 60.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,497 shares of the industrial products company’s stock after buying an additional 940 shares during the quarter. Savant Capital LLC’s holdings in Dover were worth $451,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. grew its position in shares of Dover by 5.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company’s stock worth $215,000 after buying an additional 62 shares in the last quarter. Valmark Advisers Inc. grew its position in shares of Dover by 1.6% during the second quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock worth $715,000 after buying an additional 63 shares in the last quarter. CWM LLC grew its position in shares of Dover by 2.7% during the first quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock worth $435,000 after buying an additional 65 shares in the last quarter. Wedmont Private Capital grew its position in shares of Dover by 4.0% during the first quarter. Wedmont Private Capital now owns 1,778 shares of the industrial products company’s stock worth $315,000 after buying an additional 68 shares in the last quarter. Finally, Manchester Capital Management LLC grew its position in shares of Dover by 4.1% during the fourth quarter. Manchester Capital Management LLC now owns 1,752 shares of the industrial products company’s stock worth $269,000 after buying an additional 69 shares in the last quarter. 84.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DOV has been the subject of a number of analyst reports. Mizuho boosted their price objective on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Royal Bank of Canada boosted their target price on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Finally, Robert W. Baird restated an “outperform” rating and set a $208.00 target price on shares of Dover in a research note on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and a consensus price target of $192.63.

Dover Price Performance

Shares of NYSE DOV opened at $186.63 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Dover Co. has a twelve month low of $127.25 and a twelve month high of $192.31. The stock has a 50 day moving average of $180.76 and a two-hundred day moving average of $178.50. The stock has a market cap of $25.65 billion, a P/E ratio of 17.93, a P/E/G ratio of 2.08 and a beta of 1.22.

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

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a $0.515 dividend. The ex-dividend date is Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.10%. This is a boost from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio is currently 19.79%.

Insider Buying and Selling at Dover

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 47,060 shares of the company’s stock, valued at $8,706,100. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Brad M. Cerepak sold 4,341 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the transaction, 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 filing with the SEC, which is available at the SEC website. Also, 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 transaction, the senior vice president now directly owns 47,060 shares in the company, valued at approximately $8,706,100. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,383 shares of company stock worth $8,169,883. 1.30% of the stock is owned by insiders.

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.