Argent Trust Co Takes $374,000 Position in Dover Co. (NYSE:DOV)

Argent Trust Co acquired a new stake in shares of Dover Co. (NYSE:DOV) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,072 shares of the industrial products company’s stock, valued at approximately $374,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Avantax Advisory Services Inc. purchased a new position in Dover in the fourth quarter worth about $247,000. Coldstream Capital Management Inc. lifted its stake in shares of Dover by 17.9% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,938 shares of the industrial products company’s stock valued at $452,000 after purchasing an additional 447 shares during the last quarter. Assetmark Inc. increased its position in shares of Dover by 6.3% during the 4th quarter. Assetmark Inc. now owns 39,389 shares of the industrial products company’s stock valued at $6,058,000 after purchasing an additional 2,330 shares during the last quarter. Commerce Bank raised its holdings in Dover by 4.8% during the 4th quarter. Commerce Bank now owns 55,719 shares of the industrial products company’s stock valued at $8,570,000 after buying an additional 2,530 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in Dover by 9.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 226,382 shares of the industrial products company’s stock worth $34,820,000 after buying an additional 19,156 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Dover Stock Performance

Dover stock opened at $189.12 on Friday. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week high of $192.31. The company has a market capitalization of $25.99 billion, a PE ratio of 18.17, a P/E/G ratio of 2.17 and a beta of 1.22. The company has a 50 day moving average price of $181.73 and a 200-day moving average price of $179.28. 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 (NYSE:DOV) last announced its quarterly earnings results 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. The firm had revenue of $2.18 billion during 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 quarter in the prior year, the company earned $2.05 EPS. As a group, equities analysts forecast that Dover Co. will post 9.17 earnings per share for the current year.

Dover Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a dividend yield of 1.09%. This is a positive change from Dover’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, August 30th. Dover’s payout ratio is presently 19.79%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DOV. Royal Bank of Canada increased 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 increased their price objective on shares of Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report 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’s stock. Based on data from MarketBeat, Dover has an average rating of “Moderate Buy” and an average target price of $192.63.

Insider Buying and Selling

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the transaction, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the sale, the senior vice president now directly owns 47,060 shares in the company, valued at approximately $8,706,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $33,285,578.88. The disclosure for this sale can be found here. Insiders sold 45,383 shares of company stock worth $8,169,883 in the last three months. 1.30% of the stock is owned by insiders.

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.