&Partners invests $1.15 million in Dover Co. (NYSE: DOV)

&Partners bought a new stake in Dover Co shares. (NYSE:DOV – Free Report) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 6,427 shares of the industrial products company’s stock, valued at approximately $1,151,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DOV. BSW Wealth Partners boosted its holdings in shares of Dover by 1.2% in the first quarter. BSW Wealth Partners now owns 4,930 shares of the industrial products company’s stock valued at $874,000 after acquiring an additional 59 shares during the last quarter. Summit Trail Advisors LLC boosted its stake in Dover by 2.6% in the first quarter. Summit Trail Advisors LLC now owns 2,333 shares of the industrial products company’s stock worth $413,000 after purchasing an additional 60 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in Dover by 5.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,213 shares of the industrial products company’s stock worth $215,000 after acquiring an additional 62 shares during the last quarter. Legacy Financial Advisors Inc. grew its position in Dover by 1.7% during the 4th quarter. Legacy Financial Advisors Inc. now owns 3,753 shares of the industrial products company’s stock worth $577,000 after acquiring an additional 63 shares during the period. Finally, CWM LLC boosted its holdings in shares of Dover by 2.7% in the first quarter. CWM LLC now owns 2,456 shares of the industrial products company’s stock valued at $435,000 after buying an additional 65 shares during the period. 84.46% of the shares are currently held by hedge funds and other institutional investors.

Indoor activity at Dover

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In other Dover news, CEO Richard J. Tobin sold 25,004 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 182,928 shares of the company’s stock, valued at $33,285,578.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brad M. Cerepak sold 4,341 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 12,324 shares in the company, valued at $2,274,887.16. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s shares.

Dover stock performance

Shares of NYSE:DOV opened at $184.64 on Friday. The company’s 50-day moving average price is $180.23 and its 200-day moving average price is $176.37. Dover Co. has a one year low of $127.25 and a one year high of $192.31. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53, and a quick ratio of 0.95. The firm has a market cap of $25.38 billion, a PE ratio of 17.74, a P/E/G ratio of 2.13 and a beta of 1.22.

Dover (NYSE:DOV – Get Free Report ) last posted its earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. In the same period last year, the company earned $2.05 per share. As a group, equities research analysts expect Dover Co. to post 9.15 earnings per share for the current fiscal year.

Dover increases dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a $0.515 dividend. The ex-dividend date is Friday, August 30. This is a positive change from Dover’s previous quarterly dividend of $0.51. This represents a dividend of $2.06 on an annualized basis and a dividend yield of 1.12%. Dover’s dividend payout ratio is 19.79%.

The Wall Street analyst weighs in

A number of equities research analysts recently commented on the company. Robert W. Baird reiterated an “outperform” rating and issued a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. Wells Fargo & Company upped their target price on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Royal Bank of Canada upped their target price on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Oppenheimer lifted their price objective on shares of Dover from $187.00 to $197.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Barclays upped their target price on shares of Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Dover presently has an average rating of “Moderate Buy” and a consensus price target of $192.63, according to MarketBeat.

Read the latest stock report on DOV

Dover profile

(Free report)

Dover Corporation provides equipment and components, supplies, aftermarket parts, software and digital solutions and support services worldwide. The company’s Engineering Products segment offers various equipment, components, software, solutions and services that are used in the vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist and fluid distribution end markets.

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