Exchange Traded Concepts LLC Raises Holdings in Dover Co. (NYSE:DOV)

Exchange Traded Concepts LLC increased its holdings in shares of Dover Co. (NYSE:DOV) by 488.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,295 shares of the industrial products company’s stock after purchasing an additional 1,075 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Dover were worth $248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in Dover by 153.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock valued at $466,622,000 after acquiring an additional 1,595,611 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Dover by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock valued at $271,702,000 after acquiring an additional 60,912 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Dover by 162.2% during the 2nd quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock valued at $124,195,000 after acquiring an additional 425,768 shares during the last quarter. Interval Partners LP boosted its holdings in shares of Dover by 110.0% during the 2nd quarter. Interval Partners LP now owns 583,075 shares of the industrial products company’s stock valued at $105,216,000 after acquiring an additional 305,436 shares during the last quarter. Finally, Earnest Partners LLC boosted its holdings in shares of Dover by 31.5% during the 1st quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock valued at $70,370,000 after acquiring an additional 95,056 shares during the last quarter. 84.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dover

In other news, CFO Brad M. Cerepak sold 4,341 shares of Dover stock in a transaction that occurred 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 sale, the chief financial officer now owns 12,324 shares in the company, valued at $2,274,887.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction that occurred 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 sale, the chief executive officer now owns 182,928 shares in the company, valued at $33,285,578.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brad M. Cerepak sold 4,341 shares of Dover stock in a transaction that occurred 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 sale, the chief financial officer now owns 12,324 shares in the company, valued at approximately $2,274,887.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,383 shares of company stock valued at $8,169,883 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

DOV has been the topic of a number of recent analyst reports. Wolfe Research raised shares of Dover to a “hold” rating in a report on Friday, September 20th. Oppenheimer reaffirmed an “outperform” rating and set a $215.00 price target (up previously from $210.00) on shares of Dover in a report on Wednesday, October 16th. Barclays raised their price target on shares of Dover from $186.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Robert W. Baird reissued an “outperform” rating and issued a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. Finally, Royal Bank of Canada raised their price objective 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. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $198.75.

Dover Price Performance

Shares of NYSE:DOV opened at $194.38 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. Dover Co. has a 1-year low of $127.25 and a 1-year high of $195.68. The company has a market capitalization of $26.71 billion, a P/E ratio of 18.67, a P/E/G ratio of 2.20 and a beta of 1.22. The firm’s 50 day simple moving average is $185.58 and its two-hundred day simple moving average is $181.73.

Dover (NYSE:DOV) last issued its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.15. Dover had a net margin of 17.58% and a return on equity of 24.94%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the previous year, the firm earned $2.05 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Research analysts expect that Dover Co. will post 9.18 EPS 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 issued a dividend of $0.515 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.06 annualized dividend and a yield of 1.06%. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio is currently 19.79%.

About Dover

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.