Envestnet Asset Management Inc. Decreases Holdings in Dover Co. (NYSE:DOV)

Envestnet Asset Management Inc. lowered its position in Dover Co. (NYSE:DOV) by 8.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 182,651 shares of the industrial products company’s stock after selling 16,393 shares during the quarter. Envestnet Asset Management Inc. owned about 0.13% of Dover worth $32,959,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. increased its holdings in Dover by 47.8% in the 2nd quarter. Meeder Advisory Services Inc. now owns 2,692 shares of the industrial products company’s stock worth $486,000 after acquiring an additional 871 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Dover by 16.7% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 92,156 shares of the industrial products company’s stock worth $16,436,000 after acquiring an additional 13,169 shares during the last quarter. Vest Financial LLC increased its holdings in Dover by 1.5% in the 2nd quarter. Vest Financial LLC now owns 253,410 shares of the industrial products company’s stock worth $45,728,000 after acquiring an additional 3,705 shares during the last quarter. American Century Companies Inc. increased its holdings in Dover by 162.2% in the 2nd quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock worth $124,195,000 after acquiring an additional 425,768 shares during the last quarter. Finally, HHM Wealth Advisors LLC increased its holdings in Dover by 268.8% in the 2nd quarter. HHM Wealth Advisors LLC now owns 2,058 shares of the industrial products company’s stock worth $371,000 after acquiring an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Performance

Shares of DOV opened at $189.12 on Friday. The company has a market cap of $25.99 billion, a PE ratio of 18.17, a price-to-earnings-growth ratio of 2.17 and a beta of 1.22. 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 stock has a 50-day moving average price of $181.73 and a 200-day moving average price of $179.28. Dover Co. has a 12-month low of $127.25 and a 12-month 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, beating analysts’ consensus estimates of $2.21 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the company posted $2.05 EPS. As a group, equities analysts forecast that Dover Co. will post 9.17 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a $0.515 dividend. This is an increase from Dover’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.09%. Dover’s payout ratio is presently 19.79%.

Wall Street Analyst Weigh In

DOV has been the subject of several analyst reports. Mizuho raised their target price on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Robert W. Baird restated an “outperform” rating and issued a $208.00 target price on shares of Dover in a research note on Monday, July 22nd. Finally, Royal Bank of Canada raised their target price on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.63.

Insider Buying and Selling

In related news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the sale, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the sale, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,156,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 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 approximately $8,706,100. The disclosure for this sale can be found here. Insiders sold 45,383 shares of company stock worth $8,169,883 in the last quarter. 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.