Dover Co. (NYSE:DOV) Holdings Boosted by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC increased its stake in Dover Co. (NYSE:DOV) by 58.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,343 shares of the industrial products company’s stock after purchasing an additional 1,600 shares during the period. Pier 88 Investment Partners LLC’s holdings in Dover were worth $784,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in shares of Dover in the 1st quarter worth approximately $27,000. McClarren Financial Advisors Inc. grew its stake in shares of Dover by 4,400.0% in the 2nd 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 in the last quarter. Northwest Financial Advisors bought a new stake in Dover in the fourth quarter worth approximately $36,000. Transcendent Capital Group LLC increased 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 buying an additional 156 shares during the last quarter. Finally, North Star Investment Management Corp. raised its stake in shares of Dover by 93.0% in the 1st quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 120 shares in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Insiders Place Their Bets

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the sale, the senior vice president now owns 47,060 shares of the company’s stock, valued at $8,706,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the sale, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The sale 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 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 value of $4,549,727.84. Following the transaction, the chief executive officer now owns 182,928 shares in the company, valued at $33,285,578.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,565 shares of company stock worth $5,576,733. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on DOV shares. Mizuho boosted their price objective on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Finally, Royal Bank of Canada increased their target price on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $192.63.

Dover Price Performance

Dover stock opened at $175.38 on Friday. The firm has a market cap of $24.10 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 2.21 and a beta of 1.22. The stock’s fifty day moving average price is $180.32 and its two-hundred day moving average price is $178.06. Dover Co. has a one year low of $127.25 and a one year high of $192.31. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. The company had revenue of $2.18 billion for 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%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $2.05 EPS. As a group, research analysts expect that Dover Co. will post 9.17 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a dividend of $0.515 per share. The ex-dividend date is Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.17%. This is a boost from Dover’s previous quarterly dividend of $0.51. Dover’s dividend 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.