Ashton Thomas Private Wealth LLC Makes New Investment in Dover Co. (NYSE:DOV)

Ashton Thomas Private Wealth LLC purchased a new position in Dover Co. (NYSE:DOV) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 225 shares of the industrial products company’s stock, valued at approximately $41,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ballentine Partners LLC boosted its holdings in Dover by 7.8% in the second quarter. Ballentine Partners LLC now owns 1,884 shares of the industrial products company’s stock worth $340,000 after acquiring an additional 136 shares in the last quarter. Pier 88 Investment Partners LLC boosted its holdings in Dover by 58.3% in the second quarter. Pier 88 Investment Partners LLC now owns 4,343 shares of the industrial products company’s stock worth $784,000 after acquiring an additional 1,600 shares in the last quarter. Caprock Group LLC bought a new position in Dover in the second quarter worth approximately $608,000. Acadian Asset Management LLC bought a new position in Dover in the second quarter worth approximately $634,000. Finally, Cullen Frost Bankers Inc. raised its stake in shares of Dover by 2.2% in the second quarter. Cullen Frost Bankers Inc. now owns 13,398 shares of the industrial products company’s stock worth $2,418,000 after purchasing an additional 293 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Insiders Place Their Bets

In other Dover 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 directly owns 12,324 shares of the company’s stock, valued at $2,156,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s 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 transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at $8,706,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,156,700. The disclosure for this sale can be found here. Insiders sold 45,383 shares of company stock valued at $8,169,883 over the last ninety days. 1.30% of the stock is currently owned by insiders.

Dover Stock Performance

Shares of DOV opened at $186.77 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $25.67 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.17 and a beta of 1.22. The stock has a 50 day moving average of $181.14 and a 200 day moving average of $179.00. Dover Co. has a 12 month low of $127.25 and a 12 month high of $192.31.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS 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 the consensus estimate of $2.15 billion. During the same period last year, the business posted $2.05 earnings per share. Dover’s revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts forecast that Dover Co. will post 9.17 earnings per share for the current 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 given a $0.515 dividend. 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 1.10%. The ex-dividend date was Friday, August 30th. Dover’s dividend payout ratio (DPR) is currently 19.79%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DOV. Robert W. Baird reissued an “outperform” rating and issued a $208.00 price objective on shares of Dover in a research note on Monday, July 22nd. Mizuho increased their price objective 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 stock a “sector perform” rating in a research note 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. According to MarketBeat.com, Dover presently has an average rating of “Moderate Buy” and a consensus target price 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.