Forsta AP Fonden Trims Stake in Dover Co. (NYSE:DOV)

Forsta AP Fonden reduced its position in Dover Co. (NYSE:DOV) by 16.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,300 shares of the industrial products company’s stock after selling 5,600 shares during the quarter. Forsta AP Fonden’s holdings in Dover were worth $5,287,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in shares of Dover during the first quarter worth approximately $27,000. McClarren Financial Advisors Inc. increased its position 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 worth $32,000 after acquiring an additional 176 shares during the period. Transcendent Capital Group LLC increased its position in shares of 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 period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Dover during the second quarter worth approximately $41,000. Finally, North Star Investment Management Corp. increased its position in shares of Dover by 93.0% during the first quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 120 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 completion of the transaction, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The sale was disclosed in a filing with the SEC, 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 dated Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total value of $801,305.19. Following the completion of the sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brad M. Cerepak sold 14,818 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,383 shares of company stock valued at $8,169,883. 1.30% of the stock is currently owned by company insiders.

Dover Trading Down 0.9 %

NYSE DOV opened at $185.06 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company’s fifty day simple moving average is $180.93 and its 200-day simple moving average is $178.75. The stock has a market cap of $25.44 billion, a P/E ratio of 17.78, a PEG ratio of 2.17 and a beta of 1.22. Dover Co. has a 52 week low of $127.25 and a 52 week high of $192.31.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. Dover had a net margin of 17.58% and a return on equity of 24.94%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the previous year, the firm earned $2.05 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. Equities research analysts predict 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. Stockholders of record on Friday, August 30th will be issued a dividend of $0.515 per share. This is an increase from Dover’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.11%. Dover’s payout ratio is 19.79%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Royal Bank of Canada lifted their price objective 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 lifted their price objective on shares of Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Robert W. Baird restated an “outperform” rating and set a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. 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, the company presently has an average rating of “Moderate Buy” and an average target price 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.