Dover Co. (NYSE:DOV) Shares Sold by Keating Investment Counselors Inc.

Keating Investment Counselors Inc. trimmed its position in shares of Dover Co. (NYSE:DOV) by 11.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,333 shares of the industrial products company’s stock after selling 700 shares during the period. Keating Investment Counselors Inc.’s holdings in Dover were worth $962,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. LRI Investments LLC acquired a new position in shares of Dover in the first quarter valued at approximately $27,000. McClarren Financial Advisors Inc. grew its stake 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 worth $32,000 after acquiring an additional 176 shares in the last quarter. Northwest Financial Advisors purchased a new stake in shares of Dover during the fourth quarter worth $36,000. Transcendent Capital Group LLC raised its stake in shares of Dover by 208.0% in the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 156 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its holdings in 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 purchasing an additional 120 shares during the period. 84.46% of the stock is currently owned by hedge funds and other institutional investors.

Dover Stock Up 0.2 %

Shares of NYSE:DOV opened at $175.38 on Friday. The firm has a 50 day simple moving average of $180.32 and a 200-day simple moving average of $178.06. Dover Co. has a twelve month low of $127.25 and a twelve month high of $192.31. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $24.10 billion, a PE ratio of 16.85, a P/E/G ratio of 2.21 and a beta of 1.22.

Dover (NYSE:DOV) last released its quarterly earnings data on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) 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 company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Dover’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts predict that Dover Co. will post 9.17 EPS for the current fiscal year.

Dover Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be given a dividend of $0.515 per share. This is a positive change from Dover’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, August 30th. This represents a $2.06 annualized dividend and a yield of 1.17%. Dover’s payout ratio is 19.79%.

Analysts Set New Price Targets

Several brokerages have weighed in on DOV. Mizuho upped their price target on Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Royal Bank of Canada raised their target price on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $208.00 price target on shares of Dover in a report on Monday, July 22nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Dover presently has an average rating of “Moderate Buy” and a consensus target price of $192.63.

Insider Buying and Selling at Dover

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of Dover stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $185.00, for a total value of $225,700.00. Following the transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the sale, the senior vice president now owns 47,060 shares in the company, valued at $8,706,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brad M. Cerepak sold 4,341 shares of the business’s stock in a transaction dated 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 approximately $2,274,887.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,565 shares of company stock worth $5,576,733. 1.30% of the stock is owned by insiders.

Dover Company 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.