Dover Co. (NYSE:DOV) Holdings Increased by Chase Investment Counsel Corp

Chase Investment Counsel Corp grew its stake in shares of Dover Co. (NYSE:DOV) by 23.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,575 shares of the industrial products company’s stock after buying an additional 300 shares during the quarter. Chase Investment Counsel Corp’s holdings in Dover were worth $284,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LRI Investments LLC bought a new stake in shares of Dover in the 1st quarter worth approximately $27,000. McClarren Financial Advisors Inc. raised its holdings in shares of Dover by 4,400.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 176 shares in the last quarter. Fairscale Capital LLC bought a new stake in shares of Dover in the 2nd quarter worth approximately $34,000. Transcendent Capital Group LLC raised its holdings in shares of Dover by 208.0% in the 1st 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 in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Dover in the 2nd quarter worth approximately $41,000. 84.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DOV has been the topic of several analyst reports. Robert W. Baird reissued an “outperform” rating and issued a $208.00 target price on shares of Dover in a research report on Monday, July 22nd. Royal Bank of Canada lifted their target price on shares of Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Wolfe Research raised shares of Dover to a “hold” rating in a research report on Friday, September 20th. Finally, Mizuho lifted their target price on shares of Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Dover currently has an average rating of “Moderate Buy” and an average target price of $192.63.

Insiders Place Their Bets

In other news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $175.00, for a total value of $2,593,150.00. Following the completion of the sale, the chief financial officer now directly owns 12,324 shares in the company, valued at $2,156,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Richard J. Tobin sold 25,004 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 182,928 shares in the company, valued at $33,285,578.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction on 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 completion of 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. Insiders sold 45,383 shares of company stock valued at $8,169,883 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

Dover Stock Performance

DOV stock opened at $192.78 on Monday. 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 capitalization of $26.49 billion, a price-to-earnings ratio of 18.52, a P/E/G ratio of 2.27 and a beta of 1.22. Dover Co. has a 12 month low of $127.25 and a 12 month high of $194.75. The firm has a 50 day moving average of $182.29 and a two-hundred day moving average of $180.23.

Dover (NYSE:DOV) last posted its earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.21 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.05 earnings per share. As a group, equities analysts anticipate that Dover Co. will post 9.17 EPS for the current fiscal year.

Dover Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were given a $0.515 dividend. This represents a $2.06 annualized dividend and a yield of 1.07%. This is an increase from Dover’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, August 30th. Dover’s payout ratio is currently 19.79%.

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.