Ensign Peak Advisors Inc Reduces Stake in Dover Co. (NYSE:DOV)

Ensign Peak Advisors Inc cut its holdings in shares of Dover Co. (NYSE:DOV) by 2.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 64,294 shares of the industrial products company’s stock after selling 1,570 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Dover were worth $11,602,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. LRI Investments LLC acquired a new position in Dover during the first quarter valued at $28,000. McClarren Financial Advisors Inc. boosted 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 buying an additional 176 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Dover during the second quarter worth about $41,000. Transcendent Capital Group LLC raised its position in Dover by 208.0% during the first 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. Finally, North Star Investment Management Corp. lifted its holdings in Dover by 93.0% in the first quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 120 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity at Dover

In other 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 transaction 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 filing with the SEC, which is available at this hyperlink. 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 transaction, the senior vice president now directly owns 47,060 shares in the company, valued at approximately $8,706,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brad M. Cerepak sold 4,341 shares of the firm’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 transaction of $801,305.19. Following the sale, the chief financial officer now 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. In the last quarter, insiders sold 45,383 shares of company stock valued at $8,169,883. Corporate insiders own 1.30% of the company’s stock.

Dover Price Performance

NYSE:DOV opened at $190.98 on Tuesday. The stock has a 50 day moving average of $181.95 and a two-hundred day moving average of $179.71. Dover Co. has a 12 month low of $127.25 and a 12 month high of $192.31. The firm has a market cap of $26.25 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 2.17 and a beta of 1.22. 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 (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.21 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.05 earnings per share. On average, analysts expect that Dover Co. will post 9.17 earnings per share for the current fiscal year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were given a dividend of $0.515 per share. The ex-dividend date 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 yield of 1.08%. Dover’s payout ratio is presently 19.79%.

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.