Elo Mutual Pension Insurance Co Sells 969 Shares of Dover Co. (NYSE:DOV)

Elo Mutual Pension Insurance Co lessened its position in Dover Co. (NYSE:DOV) by 7.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,769 shares of the industrial products company’s stock after selling 969 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Dover were worth $2,124,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in DOV. Avantax Advisory Services Inc. purchased a new position in shares of Dover during the 4th quarter valued at about $247,000. Norges Bank purchased a new position in shares of Dover during the fourth quarter worth approximately $175,275,000. Coldstream Capital Management Inc. lifted its holdings in shares of Dover by 17.9% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,938 shares of the industrial products company’s stock worth $452,000 after acquiring an additional 447 shares during the last quarter. Assetmark Inc. boosted its stake in shares of 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 grew its holdings in shares of Dover by 4.8% during 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 during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Price Performance

DOV stock 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. The firm has a 50 day moving average price of $181.55 and a 200-day moving average price of $179.19. Dover Co. has a 52-week low of $127.25 and a 52-week high of $192.31. The firm has a market capitalization of $26.27 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 2.17 and a beta of 1.22.

Dover (NYSE:DOV) last announced its quarterly earnings data 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 return on equity of 24.94% and a net margin of 17.58%. The business 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 quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts forecast that Dover Co. will post 9.17 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a yield of 1.08%. This is an increase from Dover’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, August 30th. Dover’s dividend payout ratio is 19.79%.

Wall Street Analysts Forecast Growth

DOV has been the subject of several analyst reports. Mizuho increased their target price on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 26th. 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 note on Friday, July 26th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $208.00 price target on shares of Dover in a report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and seven have issued 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.

Insider Buying and Selling at Dover

In other news, CEO Richard J. Tobin sold 25,004 shares of the 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 sale, the chief executive officer now owns 182,928 shares in the company, valued at $33,285,578.88. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’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 owns 47,060 shares in the company, valued at $8,706,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total value 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. In the last ninety days, insiders sold 45,383 shares of company stock worth $8,169,883. 1.30% of the stock is owned by corporate insiders.

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.