ProShare Advisors LLC Reduces Stock Holdings in Dover Co. (NYSE:DOV)

ProShare Advisors LLC trimmed its position in Dover Co. (NYSE:DOV) by 10.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,045,439 shares of the industrial products company’s stock after selling 121,341 shares during the period. ProShare Advisors LLC owned about 0.76% of Dover worth $188,649,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of DOV. LRI Investments LLC purchased a new position in Dover in the first quarter worth about $27,000. McClarren Financial Advisors Inc. raised 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 period. Transcendent Capital Group LLC raised its stake in shares of Dover by 208.0% in the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after buying an additional 156 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Dover in the second quarter worth about $41,000. Finally, North Star Investment Management Corp. raised its stake 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 worth $44,000 after buying an additional 120 shares during the period. 84.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Dover Stock Down 1.1 %

Shares of DOV opened at $189.12 on Friday. The business’s 50 day moving average is $181.83 and its 200 day moving average is $179.51. The company has a market capitalization of $25.99 billion, a PE ratio of 18.17, a price-to-earnings-growth 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 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 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 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 quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the company earned $2.05 EPS. Research analysts expect that Dover Co. will post 9.17 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a $0.515 dividend. This is an increase from Dover’s previous quarterly dividend of $0.51. 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 1.09%. Dover’s payout ratio is presently 19.79%.

Insiders Place Their Bets

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction that occurred on 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 sale, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of Dover stock in a transaction that occurred 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 sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at approximately $2,156,700. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The disclosure for this sale can be found here. Insiders have sold a total of 45,383 shares of company stock valued at $8,169,883 in the last quarter. 1.30% of the stock is currently owned by insiders.

Dover Company 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.