Robeco Schweiz AG Cuts Stock Position in Dover Co. (NYSE:DOV)

Robeco Schweiz AG trimmed its position in shares of Dover Co. (NYSE:DOV) by 22.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 290,271 shares of the industrial products company’s stock after selling 82,506 shares during the quarter. Robeco Schweiz AG owned about 0.21% of Dover worth $52,379,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of DOV. LRI Investments LLC purchased a new stake in Dover during the first quarter valued at approximately $27,000. McClarren Financial Advisors Inc. lifted its holdings in shares of Dover by 4,400.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 180 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 176 shares during the last quarter. Transcendent Capital Group LLC boosted its position 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. Ashton Thomas Private Wealth LLC purchased a new position in Dover during the 2nd quarter worth $41,000. Finally, North Star Investment Management Corp. increased its position in Dover by 93.0% during the 1st quarter. North Star Investment Management Corp. now owns 249 shares of the industrial products company’s stock valued at $44,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

Insider Buying and Selling at Dover

In other news, SVP Ivonne M. Cabrera sold 1,220 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total transaction of $225,700.00. Following the completion of the transaction, the senior vice president now directly owns 47,060 shares of the company’s stock, valued at approximately $8,706,100. The sale was disclosed in a filing with the SEC, which is available at this link. In other Dover news, CFO Brad M. Cerepak sold 14,818 shares of the business’s stock in a transaction that occurred 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 directly owns 12,324 shares in the company, valued at approximately $2,156,700. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Ivonne M. Cabrera sold 1,220 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $185.00, for a total value of $225,700.00. Following the sale, the senior vice president now owns 47,060 shares of the company’s stock, valued at $8,706,100. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,383 shares of company stock valued at $8,169,883. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Mizuho lifted their price objective on shares of Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Robert W. Baird reaffirmed an “outperform” rating and set a $208.00 price target on shares of Dover in a research report on Monday, July 22nd. Finally, Royal Bank of Canada raised their price objective on Dover from $192.00 to $193.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Three research 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 stock has an average rating of “Moderate Buy” and an average price target of $192.63.

Dover Trading Up 1.9 %

Dover stock opened at $186.63 on Friday. The firm has a market cap of $25.65 billion, a PE ratio of 17.93, a P/E/G ratio of 2.08 and a beta of 1.22. Dover Co. has a 12 month low of $127.25 and a 12 month high of $192.31. The stock’s 50 day simple moving average is $180.76 and its two-hundred day simple moving average is $178.50. The company has a current ratio of 1.53, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Dover (NYSE:DOV) last released its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.21 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.15 billion. Dover had a net margin of 17.58% and a return on equity of 24.94%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the business earned $2.05 earnings per share. Analysts anticipate that Dover Co. will post 9.17 earnings per share 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 is a boost from Dover’s previous quarterly dividend of $0.51. The ex-dividend date is Friday, August 30th. This represents a $2.06 dividend on an annualized basis and a yield of 1.10%. Dover’s dividend payout ratio is presently 19.79%.

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.