Sei Investments Co. Buys 12,242 Shares of Dover Co. (NYSE:DOV)

Sei Investments Co. raised its stake in Dover Co. (NYSE:DOV) by 20.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,422 shares of the industrial products company’s stock after purchasing an additional 12,242 shares during the period. Sei Investments Co.’s holdings in Dover were worth $13,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in DOV. Steward Partners Investment Advisory LLC lifted its position in Dover by 7.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,911 shares of the industrial products company’s stock valued at $1,371,000 after acquiring an additional 653 shares during the last quarter. Stifel Financial Corp increased its position in shares of Dover by 6.6% during the fourth quarter. Stifel Financial Corp now owns 65,956 shares of the industrial products company’s stock worth $10,145,000 after purchasing an additional 4,057 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of Dover by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 61,889 shares of the industrial products company’s stock worth $9,519,000 after purchasing an additional 600 shares in the last quarter. TFO Wealth Partners LLC grew its stake in Dover by 177,450.0% during the 4th quarter. TFO Wealth Partners LLC now owns 3,551 shares of the industrial products company’s stock worth $546,000 after buying an additional 3,549 shares during the last quarter. Finally, Chesapeake Wealth Management acquired a new position in Dover during the 4th quarter valued at about $211,000. 84.46% of the stock is currently owned by institutional investors.

Dover Trading Down 0.1 %

Shares of Dover stock opened at $192.75 on Friday. The stock has a market cap of $26.49 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. The firm has a fifty day moving average price of $182.29 and a 200 day moving average price of $180.17. Dover Co. has a 1 year low of $127.25 and a 1 year high of $194.75. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95.

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 business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the business posted $2.05 EPS. The company’s revenue was up 3.7% on a year-over-year basis. Equities research analysts predict that Dover Co. will post 9.17 earnings per share for the current year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.07%. The ex-dividend date was Friday, August 30th. This is a positive change from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio is currently 19.79%.

Wall Street Analysts Forecast Growth

DOV has been the subject of several recent analyst reports. Robert W. Baird reissued an “outperform” rating and issued a $208.00 price target on shares of Dover in a report on Monday, July 22nd. Mizuho boosted their target price 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. Wolfe Research raised shares of Dover to a “hold” rating in a report on Friday, September 20th. Finally, Royal Bank of Canada boosted their price objective on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $192.63.

Insider Activity

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the sale, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at $8,706,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other 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 sale, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,274,887.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the transaction, the senior vice president now owns 47,060 shares in the company, valued at approximately $8,706,100. The disclosure for this sale can be found here. Insiders sold a total of 45,383 shares of company stock valued at $8,169,883 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

Dover Company 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.