Rathbones Group PLC Trims Stake in Dover Co. (NYSE:DOV)

Rathbones Group PLC lessened its holdings in shares of Dover Co. (NYSE:DOV) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,412 shares of the industrial products company’s stock after selling 142 shares during the period. Rathbones Group PLC’s holdings in Dover were worth $4,044,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. LRI Investments LLC purchased a new position in Dover during the 1st quarter valued at $27,000. McClarren Financial Advisors Inc. boosted its stake in shares of Dover by 4,400.0% during 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 during the period. Transcendent Capital Group LLC grew its holdings in shares of Dover by 208.0% in the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 156 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in Dover in the 2nd quarter worth about $41,000. Finally, North Star Investment Management Corp. lifted its holdings in Dover by 93.0% during the 1st quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock valued at $44,000 after buying an additional 120 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

Dover Trading Down 0.9 %

Shares of NYSE DOV opened at $185.06 on Monday. The business has a fifty day moving average price of $180.93 and a 200 day moving average price of $178.85. Dover Co. has a 1-year low of $127.25 and a 1-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. The stock has a market capitalization of $25.44 billion, a P/E ratio of 17.78, a price-to-earnings-growth ratio of 2.17 and a beta of 1.22.

Dover (NYSE:DOV) last released 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 business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. The company’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business earned $2.05 EPS. Equities research analysts expect that Dover Co. will post 9.17 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders 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 is an increase from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.11%. Dover’s dividend payout ratio is presently 19.79%.

Insider Activity

In related news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the transaction, 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 available at this link. 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 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 owns 12,324 shares of the company’s stock, valued at approximately $2,274,887.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the completion of the transaction, the senior vice president now directly owns 47,060 shares in the company, valued at $8,706,100. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,383 shares of company stock worth $8,169,883. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on DOV shares. Royal Bank of Canada upped their target price on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Mizuho raised their price objective on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $208.00 target price on shares of Dover in a report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dover has a consensus rating of “Moderate Buy” and a consensus price target of $192.63.

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.