Rosenberg Matthew Hamilton Has $56,000 Position in Dover Co. (NYSE:DOV)

Rosenberg Matthew Hamilton grew its position in Dover Co. (NYSE:DOV) by 104.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 319 shares of the industrial products company’s stock after acquiring an additional 163 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in Dover were worth $56,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of DOV. LRI Investments LLC bought a new stake in Dover in the 1st quarter valued at $27,000. McClarren Financial Advisors Inc. increased its stake in 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 acquiring an additional 176 shares during the period. Northwest Financial Advisors acquired a new position in Dover in the fourth quarter worth about $36,000. Transcendent Capital Group LLC lifted its stake in Dover by 208.0% during the first quarter. Transcendent Capital Group LLC now owns 231 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 156 shares during the period. Finally, North Star Investment Management Corp. boosted its holdings in Dover by 93.0% during 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 in the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.

Dover Stock Down 0.4 %

Shares of NYSE DOV opened at $181.84 on Thursday. Dover Co. has a 12-month low of $127.25 and a 12-month high of $192.31. The firm’s 50-day simple moving average is $180.44 and its 200 day simple moving average is $177.12. The company has a quick ratio of 0.95, a current ratio of 1.53 and a debt-to-equity ratio of 0.55. The company has a market cap of $24.99 billion, a price-to-earnings ratio of 17.47, a price-to-earnings-growth ratio of 2.13 and a beta of 1.22.

Dover (NYSE:DOV) last announced its earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.15 billion. During the same period in the prior year, the business earned $2.05 earnings per share. Dover’s quarterly revenue was up 3.7% on a year-over-year basis. On average, research analysts expect that Dover Co. will post 9.15 earnings per share for the current fiscal year.

Dover Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a dividend of $0.515 per share. The ex-dividend date is Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a dividend 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%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Robert W. Baird restated an “outperform” rating and set a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. Mizuho increased 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. Finally, Royal Bank of Canada boosted their target price on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $192.63.

Insider Activity

In other news, CFO Brad M. Cerepak sold 4,341 shares of Dover 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 owns 12,324 shares in the company, valued at approximately $2,274,887.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Brad M. Cerepak sold 4,341 shares of Dover stock in a transaction on Wednesday, July 31st. The stock was 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 of the company’s stock, valued at $2,274,887.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard J. Tobin sold 25,004 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was 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 approximately $33,285,578.88. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

About Dover

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.