Johnson Investment Counsel Inc. Sells 3,466 Shares of Dover Co. (NYSE:DOV)

Johnson Investment Counsel Inc. reduced its holdings in shares of Dover Co. (NYSE:DOV) by 3.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 102,154 shares of the industrial products company’s stock after selling 3,466 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Dover were worth $18,434,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of DOV. LRI Investments LLC purchased a new stake in shares of Dover during the 1st quarter valued at approximately $27,000. McClarren Financial Advisors Inc. grew its position 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 valued at $32,000 after purchasing an additional 176 shares in the last quarter. Transcendent Capital Group LLC raised its stake in shares of Dover by 208.0% during the 1st quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 156 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Dover in the second quarter worth about $41,000. Finally, North Star Investment Management Corp. boosted its position 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 valued at $44,000 after acquiring an additional 120 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DOV. Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 target price on shares of Dover in a report on Monday, July 22nd. Royal Bank of Canada upped their price target 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. Finally, Mizuho boosted their target price on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $192.63.

Insider Activity

In related news, CEO Richard J. Tobin sold 25,004 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 182,928 shares in the company, valued at approximately $33,285,578.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 shares were sold at an average price of $181.96, for a total value of $4,549,727.84. Following the transaction, the chief executive officer now owns 182,928 shares in the company, valued at $33,285,578.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brad M. Cerepak sold 14,818 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $175.00, for a total transaction of $2,593,150.00. Following the sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,156,700. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,383 shares of company stock valued at $8,169,883. 1.30% of the stock is currently owned by company insiders.

Dover Trading Up 0.9 %

DOV stock opened at $183.10 on Thursday. Dover Co. has a one year low of $127.25 and a one year high of $192.31. The company has a market capitalization of $25.16 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 2.08 and a beta of 1.22. The company’s 50 day moving average price is $180.57 and its two-hundred day moving average price is $178.45. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the previous year, the firm posted $2.05 earnings per share. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, analysts predict that Dover Co. will post 9.17 earnings per share for the current fiscal year.

Dover Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a $0.515 dividend. The ex-dividend date is Friday, August 30th. This represents a $2.06 annualized dividend and a yield of 1.13%. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s payout ratio is presently 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.