180 Shares in Dover Co. (NYSE:DOV) Acquired by Fairscale Capital LLC

Fairscale Capital LLC purchased a new stake in Dover Co. (NYSE:DOV) during the second quarter, Holdings Channel reports. The firm purchased 180 shares of the industrial products company’s stock, valued at approximately $34,000.

Other hedge funds have also recently bought and sold shares of the company. 1832 Asset Management L.P. grew its holdings in shares of Dover by 11.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 28,427 shares of the industrial products company’s stock worth $5,130,000 after purchasing an additional 2,832 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new position in Dover in the second quarter valued at about $459,000. Summit Trail Advisors LLC grew its stake in Dover by 15.3% during the second quarter. Summit Trail Advisors LLC now owns 2,691 shares of the industrial products company’s stock worth $486,000 after buying an additional 358 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Dover by 20.3% during the second quarter. Sei Investments Co. now owns 72,422 shares of the industrial products company’s stock worth $13,068,000 after buying an additional 12,242 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Dover by 82.0% in the second quarter. Canada Pension Plan Investment Board now owns 95,483 shares of the industrial products company’s stock valued at $17,230,000 after acquiring an additional 43,017 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Dover

In related 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 completion of the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,274,887.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Brad M. Cerepak sold 4,341 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total transaction of $801,305.19. Following the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,274,887.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,383 shares of company stock valued at $8,169,883. Corporate insiders own 1.30% of the company’s stock.

Dover Price Performance

DOV opened at $189.12 on Monday. The company has a fifty day moving average price of $181.83 and a two-hundred day moving average price of $179.57. 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 market capitalization of $25.99 billion, a PE ratio of 18.17, a P/E/G ratio of 2.17 and a beta of 1.22. Dover Co. has a 52 week low of $127.25 and a 52 week high of $192.31.

Dover (NYSE:DOV) last released its earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.15. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 earnings per share. As a group, analysts anticipate 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 was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.09%. This is a boost from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio 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.