Interval Partners LP Raises Position in Dover Co. (NYSE:DOV)

Interval Partners LP grew its holdings in Dover Co. (NYSE:DOV) by 110.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 583,075 shares of the industrial products company’s stock after purchasing an additional 305,436 shares during the period. Dover makes up about 2.3% of Interval Partners LP’s portfolio, making the stock its 3rd biggest position. Interval Partners LP owned about 0.42% of Dover worth $105,216,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of DOV. LRI Investments LLC bought a new stake in Dover during the 1st quarter worth $27,000. McClarren Financial Advisors Inc. grew its position 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 worth $32,000 after acquiring an additional 176 shares during the last quarter. Fairscale Capital LLC bought a new stake in Dover during the 2nd quarter worth $34,000. Transcendent Capital Group LLC grew its position in Dover by 208.0% during the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 156 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Dover during the 2nd quarter worth $41,000. Institutional investors own 84.46% of the company’s stock.

Dover Stock Down 1.1 %

Shares of NYSE:DOV opened at $189.12 on Monday. The company has a market capitalization of $25.99 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 2.17 and a beta of 1.22. 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 business’s 50-day moving average is $181.83 and its 200-day moving average is $179.57. Dover Co. has a 1 year low of $127.25 and a 1 year high of $192.31.

Dover (NYSE:DOV) last announced its quarterly earnings data 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 company had revenue of $2.18 billion for 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 firm’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 EPS. Equities research analysts predict that Dover Co. will post 9.17 earnings per share for the current year.

Dover Increases Dividend

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

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the transaction, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total value of $4,549,727.84. Following the completion of the sale, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The sale 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 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 sale, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at $8,706,100. The disclosure for this sale can be found here. Insiders have sold 45,383 shares of company stock valued at $8,169,883 in the last ninety days. 1.30% of the stock is owned by company insiders.

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.