Bar Harbor Wealth Management Sells 565 Shares of Dover Co. (NYSE:DOV)

Bar Harbor Wealth Management lowered its holdings in shares of Dover Co. (NYSE:DOV) by 16.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,870 shares of the industrial products company’s stock after selling 565 shares during the period. Bar Harbor Wealth Management’s holdings in Dover were worth $550,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in Dover by 153.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after purchasing an additional 1,595,611 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Dover by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock worth $271,702,000 after acquiring an additional 60,912 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Dover by 162.2% in the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock worth $124,195,000 after acquiring an additional 425,768 shares during the period. Interval Partners LP lifted its stake in shares of Dover by 110.0% in the second quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock worth $105,216,000 after acquiring an additional 305,436 shares during the period. Finally, Earnest Partners LLC boosted its holdings in Dover by 31.5% in the first quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock valued at $70,370,000 after acquiring an additional 95,056 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Down 0.2 %

Shares of NYSE:DOV opened at $194.41 on Friday. 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 Co. has a 52-week low of $127.25 and a 52-week high of $195.68. The business’s 50 day simple moving average is $185.58 and its two-hundred day simple moving average is $181.68. The firm has a market cap of $26.72 billion, a P/E ratio of 18.68, a PEG ratio of 2.20 and a beta of 1.22.

Dover (NYSE:DOV) last posted 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. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $2.05 EPS. As a group, research analysts forecast that Dover Co. will post 9.18 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.06%. 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%.

Insider Activity at Dover

In other Dover 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 transaction of $801,305.19. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Brad M. Cerepak sold 4,341 shares of Dover stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total transaction of $801,305.19. Following the transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard J. Tobin sold 25,004 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the sale, the chief executive officer now owns 182,928 shares of the company’s stock, valued at $33,285,578.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,383 shares of company stock valued at $8,169,883. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DOV has been the subject of several analyst reports. Oppenheimer restated an “outperform” rating and set a $215.00 price target (up previously from $210.00) on shares of Dover in a report on Wednesday. Royal Bank of Canada boosted their target price 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. Mizuho increased their price target on Dover from $200.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday. Robert W. Baird reissued an “outperform” rating and issued a $208.00 price objective on shares of Dover in a research note on Monday, July 22nd. Finally, Barclays raised their target price on Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. 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 a consensus price target of $198.75.

Dover 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.