Seven Eight Capital LP Invests $845,000 in Dover Co. (NYSE:DOV)

Seven Eight Capital LP purchased a new stake in Dover Co. (NYSE:DOV) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,681 shares of the industrial products company’s stock, valued at approximately $845,000.

Other institutional investors have also recently bought and sold shares of the company. LRI Investments LLC acquired a new position in shares of Dover in the first quarter worth about $27,000. McClarren Financial Advisors Inc. boosted its stake in Dover by 4,400.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 176 shares during the period. 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 purchasing an additional 156 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in Dover during the 2nd quarter valued at $41,000. Finally, North Star Investment Management Corp. lifted its holdings in shares of 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 purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Activity at Dover

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the transaction, the chief executive officer now owns 182,928 shares in the company, valued at $33,285,578.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, 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 directly owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 owns 12,324 shares in the company, valued at approximately $2,156,700. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,383 shares of company stock valued at $8,169,883. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

Dover Trading Down 1.1 %

NYSE:DOV opened at $189.12 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53. The company has a market capitalization of $25.99 billion, a P/E ratio of 18.17, a P/E/G ratio of 2.17 and a beta of 1.22. The stock’s 50 day moving average price is $181.73 and its 200 day moving average price is $179.28. Dover Co. has a 52 week low of $127.25 and a 52 week high of $192.31.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. Dover’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.05 EPS. On average, research analysts forecast that Dover Co. will post 9.17 EPS for the current fiscal year.

Dover Increases Dividend

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