Dover Co. (NYSE:DOV) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp lowered its stake in Dover Co. (NYSE:DOV) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,254 shares of the industrial products company’s stock after selling 103 shares during the quarter. Hancock Whitney Corp’s holdings in Dover were worth $1,309,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. LRI Investments LLC acquired a new stake in Dover in the 1st quarter valued at approximately $27,000. McClarren Financial Advisors Inc. boosted its holdings in Dover by 4,400.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 176 shares during the period. Transcendent Capital Group LLC grew its position in Dover by 208.0% in the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 156 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Dover during the second quarter worth about $41,000. Finally, North Star Investment Management Corp. lifted its position in shares of Dover by 93.0% during 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 in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Dover

In other Dover news, CFO Brad M. Cerepak sold 4,341 shares of the business’s 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 completion of the sale, the chief financial officer now owns 12,324 shares in the company, valued at $2,274,887.16. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Brad M. Cerepak sold 4,341 shares of Dover stock in a transaction on Wednesday, July 31st. The shares were 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 of the company’s stock, valued at approximately $2,274,887.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard J. Tobin sold 25,004 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the sale, 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 a total of 45,383 shares of company stock valued at $8,169,883 in the last three months. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

DOV has been the topic of several recent research reports. Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 target price on shares of Dover in a research note on Monday, July 22nd. Royal Bank of Canada upped their price objective on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Finally, Mizuho lifted their target price on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.63.

Dover Stock Performance

NYSE:DOV opened at $189.12 on Monday. Dover Co. has a 12 month low of $127.25 and a 12 month 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 firm has a market capitalization 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 business’s fifty day moving average price is $181.83 and its 200 day moving average price is $179.57.

Dover (NYSE:DOV) last issued its 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 business 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%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $2.05 EPS. On average, sell-side analysts anticipate 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. Stockholders of record on Friday, August 30th were issued a $0.515 dividend. This is an increase from Dover’s previous quarterly dividend of $0.51. This represents a $2.06 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Friday, August 30th. Dover’s payout ratio is presently 19.79%.

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.