UMB Bank n.a. Trims Stake in Dover Co. (NYSE:DOV)

UMB Bank n.a. cut its holdings in Dover Co. (NYSE:DOV) by 5.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,799 shares of the industrial products company’s stock after selling 644 shares during the quarter. UMB Bank n.a.’s holdings in Dover were worth $2,262,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Benjamin F. Edwards & Company Inc. boosted its stake in Dover by 5.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company’s stock valued at $215,000 after acquiring an additional 62 shares in the last quarter. Valmark Advisers Inc. increased its position in shares of Dover by 1.6% in the 2nd quarter. Valmark Advisers Inc. now owns 3,962 shares of the industrial products company’s stock valued at $715,000 after acquiring an additional 63 shares during the period. CWM LLC raised its stake in Dover by 2.7% in the 1st quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock worth $435,000 after acquiring an additional 65 shares during the last quarter. Wedmont Private Capital increased its holdings in shares of Dover by 4.0% in the first quarter. Wedmont Private Capital now owns 1,778 shares of the industrial products company’s stock valued at $315,000 after purchasing an additional 68 shares during the period. Finally, Mather Group LLC. raised its position in Dover by 2.3% during the 2nd quarter. Mather Group LLC. now owns 3,145 shares of the industrial products company’s stock worth $557,000 after buying an additional 71 shares during the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Stock Up 0.2 %

DOV stock opened at $186.53 on Friday. The firm has a market cap of $25.64 billion, a PE ratio of 17.38, a PEG ratio of 2.20 and a beta of 1.22. Dover Co. has a one year low of $127.25 and a one year high of $194.75. 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’s 50 day moving average price is $183.39 and its 200-day moving average price is $180.98.

Dover (NYSE:DOV) last issued its quarterly earnings data 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. The firm had revenue of $2.18 billion for 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%. Dover’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.05 EPS. On average, equities research analysts anticipate that Dover Co. will post 9.18 EPS for the current year.

Dover Increases Dividend

The company 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. The ex-dividend date was Friday, August 30th. This is a boost from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.10%. Dover’s payout ratio is presently 19.20%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wells Fargo & Company upped their price target 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. Robert W. Baird reaffirmed an “outperform” rating and issued a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Barclays raised their price objective on Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Wolfe Research upgraded shares of Dover to a “hold” rating in a research report on Friday, September 20th. Finally, Mizuho increased their target price on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and an average price target of $194.00.

Insider Activity at Dover

In related news, CEO Richard J. Tobin sold 25,004 shares of the company’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 of the company’s stock, valued at $33,285,578.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction that occurred 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 approximately $2,274,887.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last 90 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.

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.