Virtu Financial LLC Sells 10,764 Shares of Dover Co. (NYSE:DOV)

Virtu Financial LLC lowered its holdings in Dover Co. (NYSE:DOV) by 58.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,765 shares of the industrial products company’s stock after selling 10,764 shares during the period. Virtu Financial LLC’s holdings in Dover were worth $1,401,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its stake in shares of 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 in the last quarter. Norges Bank bought a new stake in Dover during the fourth quarter worth $175,275,000. American Century Companies Inc. lifted its stake in Dover by 162.2% in the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock valued at $124,195,000 after acquiring an additional 425,768 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Dover by 50.7% in the 4th quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock valued at $189,433,000 after acquiring an additional 414,481 shares during the period. Finally, Interval Partners LP acquired a new position in shares of Dover during the 1st quarter worth about $49,195,000. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Price Performance

Shares of NYSE DOV opened at $186.01 on Thursday. The firm has a market cap of $25.56 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 2.17 and a beta of 1.22. The business’s 50 day moving average is $181.40 and its 200-day moving average is $179.15. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Dover Co. has a 1-year low of $127.25 and a 1-year high of $192.31.

Dover (NYSE:DOV) last posted its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same quarter last year, the business earned $2.05 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Equities research analysts predict that Dover Co. will post 9.17 earnings per share for the current year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.515 per share. 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 annualized dividend and a dividend yield of 1.11%. Dover’s dividend payout ratio (DPR) is currently 19.79%.

Insider Activity

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 182,928 shares in the company, valued at approximately $33,285,578.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Richard J. Tobin sold 25,004 shares of the firm’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 transaction, the chief executive officer now owns 182,928 shares in the company, valued at $33,285,578.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 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 ninety days, insiders sold 45,383 shares of company stock worth $8,169,883. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of Dover from $192.00 to $193.00 and gave the company 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 company an “outperform” rating in a research report on Friday, July 26th. Finally, Robert W. Baird reissued an “outperform” rating and set a $208.00 target price on shares of Dover in a report on Monday, July 22nd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and an average price target of $192.63.

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.