First Eagle Investment Management LLC Increases Holdings in Dover Co. (NYSE:DOV)

First Eagle Investment Management LLC lifted its position in Dover Co. (NYSE:DOV) by 20.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,639 shares of the industrial products company’s stock after purchasing an additional 800 shares during the quarter. First Eagle Investment Management LLC’s holdings in Dover were worth $837,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. LRI Investments LLC purchased a new position in shares of Dover in the first quarter worth about $27,000. McClarren Financial Advisors Inc. raised its stake in shares of Dover by 4,400.0% in the second quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 176 shares during the last quarter. Transcendent Capital Group LLC raised its stake in shares of Dover by 208.0% in the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 156 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Dover in the second quarter worth about $41,000. Finally, North Star Investment Management Corp. raised its stake in shares of Dover by 93.0% in the first quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 120 shares during the last quarter. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on DOV shares. Robert W. Baird reiterated an “outperform” rating and set a $208.00 price target on shares of Dover in a research report on Monday, July 22nd. Royal Bank of Canada lifted their price target on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Finally, Mizuho lifted their price target on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $192.63.

Dover Stock Down 1.1 %

Shares of DOV opened at $189.12 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. Dover Co. has a 12 month low of $127.25 and a 12 month high of $192.31. The stock’s 50 day moving average is $181.83 and its two-hundred day moving average is $179.51. The firm has a market cap of $25.99 billion, a P/E ratio of 18.17, a PEG ratio of 2.17 and a beta of 1.22.

Dover (NYSE:DOV) last issued its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 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 return on equity of 24.94% and a net margin of 17.58%. Dover’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company earned $2.05 earnings per share. Analysts predict that Dover Co. will post 9.17 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $0.515 dividend. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change 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%. Dover’s payout ratio is currently 19.79%.

Insider Transactions at Dover

In other news, CFO Brad M. Cerepak sold 4,341 shares of Dover stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the business’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 of the company’s stock, valued at $33,285,578.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brad M. Cerepak sold 4,341 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the transaction, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,274,887.16. The disclosure for this sale can be found here. Insiders have sold 45,383 shares of company stock valued at $8,169,883 over the last ninety days. Insiders own 1.30% of the company’s stock.

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.