Family Firm Inc. Takes $103,000 Position in Dover Co. (NYSE:DOV)

Family Firm Inc. bought a new stake in Dover Co. (NYSE:DOV) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 572 shares of the industrial products company’s stock, valued at approximately $103,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC acquired a new position in shares of Dover during the fourth quarter valued at approximately $8,311,000. Greenleaf Trust raised its stake in Dover by 10.9% in the 4th quarter. Greenleaf Trust now owns 2,671 shares of the industrial products company’s stock valued at $411,000 after purchasing an additional 263 shares during the last quarter. abrdn plc grew its holdings in shares of Dover by 65.4% during the fourth quarter. abrdn plc now owns 64,405 shares of the industrial products company’s stock worth $9,906,000 after buying an additional 25,464 shares in the last quarter. Signaturefd LLC raised its position in shares of Dover by 5.6% in the fourth quarter. Signaturefd LLC now owns 3,816 shares of the industrial products company’s stock valued at $587,000 after buying an additional 202 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Dover by 14.5% in the fourth quarter. CWM LLC now owns 2,391 shares of the industrial products company’s stock worth $368,000 after buying an additional 302 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Transactions at Dover

In other Dover news, CFO Brad M. Cerepak sold 4,341 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $184.59, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, 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 transaction of $4,549,727.84. Following the sale, the chief executive officer now directly owns 182,928 shares in the company, valued at $33,285,578.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brad M. Cerepak sold 4,341 shares of the firm’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 sale, the chief financial officer now directly owns 12,324 shares in the company, valued at approximately $2,274,887.16. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on DOV shares. Wells Fargo & Company boosted their target price on Dover from $177.00 to $190.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Robert W. Baird restated an “outperform” rating and issued a $208.00 target price on shares of Dover in a report on Monday, July 22nd. StockNews.com raised Dover from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Royal Bank of Canada boosted their price target on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Finally, Barclays raised their price objective on shares of Dover from $180.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dover presently has a consensus rating of “Moderate Buy” and an average price target of $192.63.

Dover Trading Up 1.7 %

Shares of DOV stock traded up $3.10 during trading hours on Friday, hitting $184.64. The company had a trading volume of 414,591 shares, compared to its average volume of 981,016. 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 stock has a market capitalization of $25.38 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 2.13 and a beta of 1.22. The company’s fifty day moving average is $180.38 and its 200 day moving average is $176.55. Dover Co. has a fifty-two week low of $127.25 and a fifty-two 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 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.15. The company 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 firm’s revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 earnings per share. Research analysts expect that Dover Co. will post 9.15 earnings per share for the current fiscal year.

Dover Increases Dividend

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