Financial Enhancement Group LLC grew its holdings in Dover Co. (NYSE:DOV – Free Report) by 4.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,926 shares of the industrial products company’s stock after purchasing an additional 1,490 shares during the quarter. Financial Enhancement Group LLC’s holdings in Dover were worth $5,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Baird Financial Group Inc. raised its holdings in shares of Dover by 1.9% during the fourth quarter. Baird Financial Group Inc. now owns 68,820 shares of the industrial products company’s stock valued at $9,319,000 after purchasing an additional 1,273 shares during the period. LGT Group Foundation boosted its holdings in Dover by 118.9% in the first quarter. LGT Group Foundation now owns 46,099 shares of the industrial products company’s stock worth $7,004,000 after acquiring an additional 25,035 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new stake in Dover in the first quarter valued at approximately $206,000. Fund Management at Engine No. 1 LLC bought a new stake in shares of Dover during the fourth quarter valued at approximately $209,000. Finally, Wealthfront Advisers LLC raised its position in shares of Dover by 4.5% during the first quarter. Wealthfront Advisers LLC now owns 20,490 shares of the industrial products company’s stock worth $3,113,000 after purchasing an additional 881 shares during the period. Institutional investors own 83.97% of the company’s stock.
Insider Activity at Dover
In other Dover news, CFO Brad M. Cerepak sold 4,631 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $142.00, for a total transaction of $657,602.00. Following the completion of the transaction, the chief financial officer now owns 49,938 shares in the company, valued at $7,091,196. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.
Dover Stock Performance
Dover (NYSE:DOV – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $2.05 EPS for the quarter, missing analysts’ consensus estimates of $2.21 by ($0.16). Dover had a return on equity of 27.33% and a net margin of 12.04%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the firm posted $2.14 EPS. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, research analysts predict that Dover Co. will post 8.89 EPS for the current year.
Dover Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.51 per share. This is an increase from Dover’s previous quarterly dividend of $0.51. The ex-dividend date is Wednesday, August 30th. This represents a $2.04 annualized dividend and a dividend yield of 1.45%. Dover’s dividend payout ratio is presently 28.25%.
Analyst Upgrades and Downgrades
A number of analysts have commented on DOV shares. Wells Fargo & Company decreased their price target on shares of Dover from $155.00 to $152.00 in a research note on Monday, July 10th. StockNews.com initiated coverage on shares of Dover in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Finally, Robert W. Baird increased their price objective on Dover from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 25th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Dover presently has an average rating of “Moderate Buy” and a consensus target price of $162.38.
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 aftermarket vehicle service, solid waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.
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