Banque Cantonale Vaudoise reduces holdings in Dover Co. (NYSE: DOV)

VaselineSeptember 2, 2024

0 4 minutes read

Banque Cantonale Vaudoise reduced its position in Dover Co. (NYSE:DOV – Free Report) by 63.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,126 shares of the industrial products company’s stock after selling 7,056 shares during the quarter. Dover’s holdings in Banque Cantonale Vaudoise were worth $745,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Franklin Resources Inc. boosted its holdings in shares of Dover by 15.4% in the fourth quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock worth $567,426,000 after buying an additional 492,577 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Dover by 153.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after buying an additional 1,595,611 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Dover by 10.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,428,878 shares of the industrial products company’s stock worth $219,778,000 after purchasing an additional 140,089 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Dover by 50.7% in the fourth quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock worth $189,433,000 after buying an additional 414,481 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in shares of Dover by 15.9% in the fourth quarter. Corient Private Wealth LLC now owns 1,150,063 shares of the industrial products company’s stock worth $176,891,000 after purchasing an additional 157,614 shares during the last quarter. 84.46% of shares are owned by institutional investors.

Trading at Dover up 1.7%

DOV opened at $186.03 on Monday. The stock has a market cap of $25.57 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 2.21 and a beta of 1.22. The stock’s 50-day moving average price is $180.50 and its 200-day moving average price is $177.57. Dover Co. it 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 quick ratio of 0.95, and a current ratio of 1.53.

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Dover (NYSE:DOV – Get Your 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 firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The company’s quarterly revenue was up 3.7% year over year. In the same quarter last year, the company posted earnings of $2.05 per share. On average, equities analysts expect that Dover Co. will post 9.17 EPS for the current year.

Dover increases dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a $0.515 dividend. This is a positive change from Dover’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, August 30. This represents a dividend of $2.06 on an annualized basis and a dividend yield of 1.11%. Dover’s payout ratio is currently 19.60%.

The Wall Street analyst weighs in

Several brokerages weighed in on DOV. Royal Bank of Canada boosted 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. Robert W. Baird reissued an “outperform” rating and set a $208.00 price objective on shares of Dover in a research note on Monday, July 22nd. Finally, Mizuho boosted 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. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Moderate Buy” and a consensus price target of $192.63, according to MarketBeat.

Get the latest stock analysis on DOV

Indoor activity at Dover

In related news, CFO Brad M. Cerepak sold 4,341 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the completion of the sale, 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 can be accessed through the SEC’s website. In related news, CFO Brad M. Cerepak sold 4,341 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the completion of the sale, 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 can be accessed through the SEC’s website. Also, CEO Richard J. Tobin sold 25,004 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 disclosure for this sale can be found here. In the last quarter, insiders sold 30,565 shares of company stock worth $5,576,733. Company insiders hold 1.30% of the company’s shares.

About Dover

(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.