Eastern Bank Acquires Shares of 1,525 Dover Co. (NYSE:DOV)

Eastern Bank bought a new position in shares of Dover Co. (NYSE:DOV) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,525 shares of the industrial products company’s stock, valued at approximately $292,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. LRI Investments LLC acquired a new stake in Dover in the 1st quarter valued at about $27,000. McClarren Financial Advisors Inc. increased its holdings in shares of Dover by 4,400.0% in the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 176 shares in the last quarter. Fairscale Capital LLC acquired a new position in Dover during the 2nd quarter worth $34,000. Transcendent Capital Group LLC boosted its position in Dover by 208.0% in the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after buying an additional 156 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Dover during the second quarter worth $41,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Dover

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the firm’s 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 directly owns 182,928 shares in the company, valued at approximately $33,285,578.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 182,928 shares of the company’s stock, valued at $33,285,578.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brad M. Cerepak sold 4,341 shares of the business’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 completion of the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,274,887.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 45,383 shares of company stock worth $8,169,883. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on DOV. 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 reaffirmed an “outperform” rating and issued a $208.00 target price on shares of Dover in a research note on Monday, July 22nd. Oppenheimer reissued an “outperform” rating and set a $215.00 price target (up from $210.00) on shares of Dover in a research note on Wednesday, October 16th. Wolfe Research upgraded shares of Dover to a “hold” rating in a report on Friday, September 20th. Finally, Mizuho lifted their target price on shares of Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.75.

Dover Trading Up 0.1 %

DOV opened at $191.61 on Thursday. The firm’s fifty day moving average is $186.25 and its two-hundred day moving average is $182.03. The firm has a market cap of $26.33 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 2.20 and a beta of 1.22. Dover Co. has a twelve month low of $127.25 and a twelve month high of $195.68. 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 (NYSE:DOV) last issued its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, topping 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 business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter last year, the business posted $2.05 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. Equities research analysts anticipate that Dover Co. will post 9.18 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 issued a dividend of $0.515 per share. This represents a $2.06 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Friday, August 30th. This is a boost from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio is 19.79%.

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.