American Trust Has $3.12 Million Stake in Dover Co. (NYSE:DOV)

American Trust reduced its stake in shares of Dover Co. (NYSE:DOV) by 5.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,290 shares of the industrial products company’s stock after selling 925 shares during the quarter. American Trust’s holdings in Dover were worth $3,120,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. LRI Investments LLC acquired a new position in shares of Dover in the first quarter worth $28,000. McClarren Financial Advisors Inc. raised its stake in shares of Dover by 4,400.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 176 shares in the last quarter. Fairscale Capital LLC purchased a new stake in shares of Dover during the 2nd quarter worth about $34,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Dover during the 2nd quarter valued at about $41,000. Finally, Transcendent Capital Group LLC increased its holdings in Dover by 208.0% in the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after buying an additional 156 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Trading Down 0.7 %

Shares of Dover stock opened at $190.46 on Wednesday. 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 cap of $26.17 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.27 and a beta of 1.22. The company’s fifty day simple moving average is $182.71 and its 200-day simple moving average is $180.45. Dover Co. has a 1 year low of $127.25 and a 1 year high of $194.75.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same period in the previous year, the company posted $2.05 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts expect that Dover Co. will post 9.17 EPS for the current year.

Dover Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.515 dividend. This is a boost from Dover’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.08%. Dover’s dividend payout ratio is currently 19.79%.

Analyst Ratings Changes

Several analysts have commented on DOV shares. Wells Fargo & Company boosted their target price on shares of Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Monday. Royal Bank of Canada raised their target price on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Wolfe Research upgraded Dover to a “hold” rating in a research note on Friday, September 20th. Mizuho raised their price objective on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Dover has an average rating of “Moderate Buy” and an average price target of $193.50.

Insider Transactions at Dover

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the sale, the senior vice president now owns 47,060 shares of the company’s stock, valued at $8,706,100. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $2,593,150.00. Following the transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. The disclosure for this sale can be found here. In the last three months, insiders sold 45,383 shares of company stock valued at $8,169,883. Company insiders own 1.30% of the company’s stock.

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.