Dover Co. (NYSE:DOV) Shares Sold by Pensionfund Sabic

by · The Markets Daily

Pensionfund Sabic trimmed its stake in Dover Co. (NYSE:DOV – Free Report) by 22.1% in the third quarter, HoldingsChannel.com reports. The fund owned 5,300 shares of the industrial products company’s stock after selling 1,500 shares during the quarter. Pensionfund Sabic’s holdings in Dover were worth $1,016,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research firms have recently issued reports on DOV. Royal Bank of Canada raised their price objective on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Robert W. Baird reissued an “outperform” rating and issued a $208.00 price target on shares of Dover in a research note on Monday, July 22nd. Mizuho upped their price objective on shares of Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Wolfe Research upgraded shares of Dover to a “hold” rating in a report on Friday, September 20th. Finally, Wells Fargo & Company boosted their target price on shares of Dover from $190.00 to $197.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.00.

Read Our Latest Report on Dover

Insider Activity at Dover

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

Dover Stock Up 0.2 %

DOV opened at $186.53 on Friday. Dover Co. has a 1 year low of $127.25 and a 1 year high of $194.75. The firm has a 50 day moving average price of $183.39 and a 200 day moving average price of $180.98. 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 company has a market cap of $25.63 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22.

Dover (NYSE:DOV – Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.05 earnings per share. Sell-side analysts expect that Dover Co. will post 9.17 earnings per share for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.515 dividend. This is an increase from Dover’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, August 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.10%. Dover’s dividend payout ratio is presently 19.79%.

Dover Profile

(Free Report)

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.

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