Choreo LLC Invests $817,000 in Dover Co. (NYSE:DOV)

Choreo LLC acquired a new stake in shares of Dover Co. (NYSE:DOV) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,606 shares of the industrial products company’s stock, valued at approximately $817,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DOV. LRI Investments LLC bought a new stake in shares of Dover during the 1st quarter valued at about $27,000. McClarren Financial Advisors Inc. raised its stake in Dover by 4,400.0% in the second 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 in the last quarter. Transcendent Capital Group LLC lifted 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 valued at $41,000 after purchasing an additional 156 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Dover in the 2nd quarter worth approximately $41,000. Finally, North Star Investment Management Corp. increased its holdings in shares of Dover by 93.0% in the 1st quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock worth $44,000 after buying an additional 120 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Trading Down 0.9 %

NYSE DOV opened at $185.06 on Friday. The stock has a 50-day moving average of $180.93 and a 200-day moving average of $178.65. 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 1-year low of $127.25 and a 1-year high of $192.31. The firm has a market cap of $25.44 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 2.17 and a beta of 1.22.

Dover (NYSE:DOV) last released 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 firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the prior year, the firm posted $2.05 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Dover Co. will post 9.17 EPS 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 given a $0.515 dividend. This is a boost from Dover’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.11%. Dover’s payout ratio is presently 19.79%.

Analyst Ratings Changes

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

Insider Transactions at Dover

In related news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was 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 approximately $2,156,700. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,156,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 182,928 shares in the company, valued at $33,285,578.88. 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. Company insiders own 1.30% of the company’s stock.

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.