Brighton Jones LLC Raises Position in Dover Co. (NYSE:DOV)

Brighton Jones LLC lifted its stake in Dover Co. (NYSE:DOV) by 34.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,379 shares of the industrial products company’s stock after purchasing an additional 871 shares during the quarter. Brighton Jones LLC’s holdings in Dover were worth $610,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Avantax Advisory Services Inc. bought a new position in Dover during the fourth quarter valued at $247,000. Commerce Bank raised its position in Dover by 4.8% in the 4th quarter. Commerce Bank now owns 55,719 shares of the industrial products company’s stock worth $8,570,000 after purchasing an additional 2,530 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake 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 purchasing an additional 19,156 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Dover by 14.2% during the fourth quarter. Hsbc Holdings PLC now owns 281,912 shares of the industrial products company’s stock valued at $43,330,000 after buying an additional 35,109 shares during the period. Finally, Mitchell Sinkler & Starr PA bought a new position in shares of Dover during the fourth quarter valued at approximately $208,000. Institutional investors own 84.46% of the company’s stock.

Insider Activity at Dover

In other Dover news, SVP Ivonne M. Cabrera sold 1,220 shares of the business’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 completion of the transaction, the senior vice president now directly owns 47,060 shares in the company, valued at $8,706,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction that occurred 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 transaction, the senior vice president now owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brad M. Cerepak sold 4,341 shares of the 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 directly owns 12,324 shares of the company’s stock, valued at approximately $2,274,887.16. The disclosure for this sale can be found here. Insiders have sold a total of 45,383 shares of company stock valued at $8,169,883 over the last quarter. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DOV has been the subject of a number of recent analyst reports. Robert W. Baird restated an “outperform” rating and set a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Royal Bank of Canada boosted 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. Finally, Mizuho raised their price target 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. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dover has an average rating of “Moderate Buy” and a consensus target price of $192.63.

Dover Stock Down 1.1 %

Shares of Dover stock opened at $189.12 on Friday. 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 cap of $25.99 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 2.17 and a beta of 1.22. The firm’s 50-day moving average is $181.83 and its two-hundred day moving average is $179.51.

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

Dover Increases Dividend

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

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.