Summit Trail Advisors LLC Acquires 358 Shares of Dover Co. (NYSE:DOV)

Summit Trail Advisors LLC increased its holdings in shares of Dover Co. (NYSE:DOV) by 15.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,691 shares of the industrial products company’s stock after buying an additional 358 shares during the period. Summit Trail Advisors LLC’s holdings in Dover were worth $486,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. BNP Paribas Financial Markets lifted its stake in shares of Dover by 27.4% in the 1st quarter. BNP Paribas Financial Markets now owns 166,211 shares of the industrial products company’s stock valued at $29,451,000 after purchasing an additional 35,750 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Dover by 14.4% in the first 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. Hsbc Holdings PLC boosted its holdings in Dover by 14.2% during the fourth quarter. Hsbc Holdings PLC now owns 281,912 shares of the industrial products company’s stock worth $43,330,000 after buying an additional 35,109 shares during the last quarter. SG Americas Securities LLC grew its position in shares of 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 period. Finally, Cetera Investment Advisers grew its position in shares of Dover by 975.5% during the 1st quarter. Cetera Investment Advisers now owns 24,886 shares of the industrial products company’s stock worth $4,410,000 after buying an additional 22,572 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Up 1.0 %

Shares of DOV stock opened at $190.98 on Tuesday. The company has a market capitalization of $26.25 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 2.17 and a beta of 1.22. Dover Co. has a 12-month low of $127.25 and a 12-month high of $192.31. The firm has a fifty day moving average of $181.95 and a 200-day moving average of $179.71. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.15. The firm 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 company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $2.05 EPS. As a group, equities research 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. Shareholders of record on Friday, August 30th were given a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.08%. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio is 19.79%.

Insider Transactions at Dover

In related news, CFO Brad M. Cerepak sold 4,341 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total transaction of $801,305.19. Following the completion of the transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,274,887.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction dated 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 in the company, valued at $2,274,887.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 47,060 shares of the company’s stock, valued at $8,706,100. The disclosure for this sale can be found here. Insiders sold 45,383 shares of company stock valued at $8,169,883 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Robert W. Baird reissued an “outperform” rating and set a $208.00 price target on shares of Dover in a research report on Monday, July 22nd. Finally, Mizuho boosted their price target on shares of Dover from $185.00 to $200.00 and gave the company 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 given a buy rating to the stock. According to data from MarketBeat, Dover has a consensus rating of “Moderate Buy” and a consensus target price 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.