HB Wealth Management LLC Purchases 1,788 Shares of Dover Co. (NYSE:DOV)

HB Wealth Management LLC lifted its position in shares of Dover Co. (NYSE:DOV) by 31.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,462 shares of the industrial products company’s stock after purchasing an additional 1,788 shares during the quarter. HB Wealth Management LLC’s holdings in Dover were worth $1,347,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in Dover by 153.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock valued at $466,622,000 after acquiring an additional 1,595,611 shares during the period. Norges Bank acquired a new position in shares of Dover in the 4th quarter valued at approximately $175,275,000. Franklin Resources Inc. increased its stake in Dover by 15.4% during the 4th quarter. Franklin Resources Inc. now owns 3,689,136 shares of the industrial products company’s stock worth $567,426,000 after purchasing an additional 492,577 shares in the last quarter. Wellington Management Group LLP raised its holdings in Dover by 50.7% during the 4th quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock worth $189,433,000 after buying an additional 414,481 shares during the period. Finally, Interval Partners LP acquired a new position in shares of Dover in the first quarter valued at approximately $49,195,000. Institutional investors own 84.46% of the company’s stock.

Dover Stock Up 0.6 %

Dover stock opened at $182.99 on Friday. Dover Co. has a fifty-two week low of $127.25 and a fifty-two week high of $192.31. The firm has a market capitalization of $25.15 billion, a PE ratio of 17.58, a P/E/G ratio of 2.13 and a beta of 1.22. The company’s 50-day moving average is $180.43 and its 200-day moving average is $177.16. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95.

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 return on equity of 24.94% and a net margin of 17.58%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the prior year, the company earned $2.05 earnings per share. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. Sell-side analysts anticipate that Dover Co. will post 9.15 earnings per share for the current year.

Dover Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a dividend of $0.515 per share. This is an increase from Dover’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Friday, August 30th. This represents a $2.06 annualized dividend and a dividend yield of 1.13%. Dover’s payout ratio is presently 19.79%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DOV. Mizuho raised their price objective on shares of 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 lifted their price target on Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 price objective on shares of Dover in a research report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $192.63.

Insider Activity at Dover

In other news, CFO Brad M. Cerepak sold 4,341 shares of the business’s stock in a transaction that occurred 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 owns 12,324 shares in the company, valued at $2,274,887.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, 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 sale, the chief financial officer now owns 12,324 shares of the company’s stock, valued at $2,274,887.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $4,549,727.84. Following the transaction, the chief executive officer now directly owns 182,928 shares in the company, valued at $33,285,578.88. The disclosure for this sale can be found here. 1.30% of the stock is owned by company 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.