Dover Co. (NYSE:DOV) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its position in shares of Dover Co. (NYSE:DOV) by 2.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,905 shares of the industrial products company’s stock after selling 1,097 shares during the period. Mutual of America Capital Management LLC’s holdings in Dover were worth $7,562,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of DOV. Avantax Advisory Services Inc. acquired a new position in Dover during the 4th quarter worth about $247,000. Norges Bank acquired a new stake in Dover in the 4th quarter valued at about $175,275,000. Coldstream Capital Management Inc. raised its position in Dover by 17.9% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,938 shares of the industrial products company’s stock valued at $452,000 after purchasing an additional 447 shares in the last quarter. Assetmark Inc. raised its position in Dover by 6.3% in the 4th quarter. Assetmark Inc. now owns 39,389 shares of the industrial products company’s stock valued at $6,058,000 after purchasing an additional 2,330 shares in the last quarter. Finally, Commerce Bank raised its position in Dover by 4.8% in the 4th quarter. Commerce Bank now owns 55,719 shares of the industrial products company’s stock valued at $8,570,000 after purchasing an additional 2,530 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insider Buying and Selling

In related news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction that occurred on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of Dover 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 directly owns 47,060 shares in the company, valued at approximately $8,706,100. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction that occurred on Friday, September 6th. The shares were 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 owns 12,324 shares in the company, valued at $2,156,700. The disclosure for this sale can be found here. Insiders have sold 45,383 shares of company stock worth $8,169,883 in the last quarter. 1.30% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Dover Price Performance

Shares of NYSE DOV opened at $191.18 on Friday. 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 Co. has a fifty-two week low of $127.25 and a fifty-two week high of $192.31. The firm has a market capitalization of $26.27 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 2.17 and a beta of 1.22. The stock’s 50-day simple moving average is $181.55 and its 200-day simple moving average is $179.19.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. The firm had revenue of $2.18 billion for 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%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 EPS. As a group, equities research analysts forecast that Dover Co. will post 9.17 EPS 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 paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a 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 (DPR) is currently 19.79%.

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.