Lombard Odier Asset Management Europe Ltd Raises Stake in Dover Co. (NYSE:DOV)

Lombard Odier Asset Management Europe Ltd lifted its position in Dover Co. (NYSE:DOV) by 177.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,818 shares of the industrial products company’s stock after purchasing an additional 26,722 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Dover were worth $7,546,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets increased its stake in Dover by 27.4% during the 1st quarter. BNP Paribas Financial Markets now owns 166,211 shares of the industrial products company’s stock worth $29,451,000 after buying an additional 35,750 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Dover by 14.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 202,659 shares of the industrial products company’s stock valued at $35,909,000 after buying an additional 25,562 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of Dover by 9.2% during 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 buying an additional 19,156 shares during the period. Hsbc Holdings PLC lifted its stake in Dover by 14.2% in the fourth quarter. Hsbc Holdings PLC now owns 281,912 shares of the industrial products company’s stock worth $43,330,000 after acquiring an additional 35,109 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in Dover by 75.1% during the 1st quarter. SG Americas Securities LLC now owns 19,972 shares of the industrial products company’s stock worth $3,539,000 after buying an additional 8,563 shares during the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Trading Down 1.1 %

Shares of Dover stock opened at $189.12 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55. The firm has a market cap of $25.99 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 2.17 and a beta of 1.22. Dover Co. has a 52-week low of $127.25 and a 52-week high of $192.31. The company’s 50-day simple moving average is $181.83 and its 200-day simple moving average 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. Dover had a return on equity of 24.94% and a net margin of 17.58%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the prior year, the business posted $2.05 EPS. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities research analysts anticipate that Dover Co. will post 9.17 earnings per share for the current 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 issued a dividend of $0.515 per share. The ex-dividend date was Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.09%. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio is currently 19.79%.

Insider Buying and Selling at Dover

In related news, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction on Friday, September 6th. The stock was sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the completion of the transaction, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at $2,156,700. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Brad M. Cerepak sold 14,818 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,156,700. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the sale, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,383 shares of company stock valued at $8,169,883. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.