Dover Co. (NYSE:DOV) Shares Sold by Burney Co.

Burney Co. lessened its holdings in shares of Dover Co. (NYSE:DOV) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,009 shares of the industrial products company’s stock after selling 572 shares during the quarter. Burney Co.’s holdings in Dover were worth $4,254,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Franklin Resources Inc. raised its holdings in shares of 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 acquiring an additional 492,577 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Dover by 153.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after acquiring an additional 1,595,611 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Dover by 10.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,428,878 shares of the industrial products company’s stock worth $219,778,000 after acquiring an additional 140,089 shares during the period. Wellington Management Group LLP raised its holdings in shares of 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 acquiring an additional 414,481 shares during the period. Finally, Corient Private Wealth LLC raised its holdings in shares of Dover by 15.9% during the 4th quarter. Corient Private Wealth LLC now owns 1,150,063 shares of the industrial products company’s stock worth $176,891,000 after acquiring an additional 157,614 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Dover Stock Down 2.1 %

Shares of Dover stock traded down $3.73 on Friday, reaching $175.42. 976,784 shares of the company were exchanged, compared to its average volume of 1,107,986. Dover Co. has a 1-year low of $127.25 and a 1-year high of $192.31. The company has a market cap of $24.11 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 2.13 and a beta of 1.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.53 and a quick ratio of 0.95. The stock’s 50 day moving average price is $181.14 and its 200-day moving average price is $173.71.

Dover (NYSE:DOV) last announced its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.05 earnings per share. As a group, equities analysts forecast that Dover Co. will post 9.15 EPS for the current year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be issued a $0.515 dividend. This represents a $2.06 dividend on an annualized basis and a yield of 1.17%. This is an increase from Dover’s previous quarterly dividend of $0.51. Dover’s dividend payout ratio is 19.60%.

Insider Activity at Dover

In related news, CFO Brad M. Cerepak sold 4,341 shares of the company’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 value of $801,305.19. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DOV. Citigroup boosted their price objective on shares of Dover from $180.00 to $205.00 and gave the company a “buy” rating in a report on Monday, April 8th. Robert W. Baird restated an “outperform” rating and issued a $208.00 price objective on shares of Dover in a report on Monday, July 22nd. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Mizuho lifted their target price on Dover from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company lifted their target price on Dover from $177.00 to $190.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Dover currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.63.

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.